High interest rates haven’t dampened demand for lake houses in Dallas area

Despite elevated mortgage rates and a somewhat cloudy residential real estate picture, the market for lake homes remains hot in North Texas — sultry weather aside.

That’s partly because, while the average interest rate continues to hover near 7% for a 30-year mortgage, many lakeside buyers are paying cash for what is likely a vacation home, said Rogers Healy, a longtime North Texas broker and real estate entrepreneur.

And if they are borrowing money, buyers are often putting down 20% to 30%.

Click here to read the full article
Source: Dallas Business Journal

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.