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After leaving them in a holding pattern for 10 long years the Federal Housing Finance Agency (FHFA) has raised conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac. Separate loan limit announcements are expected shortly from FHA and the Veterans Administration. The current loan limit, $417,000 , has been in place since 2006. When the housing crisis hit, the Housing and Economic Recovery Act of 2008 (HERA) set the baseline loan limit at that existing level for one to four family houses in most of the U.S. and required it be adjusted each year to reflect any changes in the national average home price. When prices continued to decline HERA also made clear that the baseline could not be adjusted upward until the average U.S. home price returned to its pre-decline level. As
Housing News
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After leaving them in a holding pattern for 10 long years the Federal Housing Finance Agency (FHFA) has raised conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac. Separate loan limit announcements are expected shortly from FH... (read more)
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Housing News
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House prices increases moderated slightly compared to the pace set in August, but the Federal Housing Finance Index (FHFA) said the month-over-month gain in its Housing Price Index (HPI) in September was still a robust 0.6 percent . The index had pos... (read more)
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MBS Commentary
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Bond markets begin the day on the run (the bad kind of run), and if Thanksgivings past are any indication, things could get worse before they get better. (read more)
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Housing News
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Purchase mortgage application activity picked up significantly during the week ended November 18. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 5.5 percent on a seasonally adjusted basis ... (read more)
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Rob Chrisman
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My cat Myrtle is old school. A traditionalist. Even though she has never said it out loud, I know that she doesn’t approve of me putting one space after a period. She prefers two – but anyone who does a lot of writing knows that two space... (read more)
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Housing News
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New home sales failed to build on their September momentum, although the October downturn was not a large one. The Census Bureau and the Department of Housing and Urban Development said today that sales of newly constructed homes in October were at a... (read more)
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freddiemac.mwnewsroom.com
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