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The Federal Housing Administration (FHA) has now joined the Federal Housing Finance Agency in raising the dollar limits for loans that qualify for FHA guarantees. Last week FHFA raised limits for Fannie Mae and Freddie Mac loans to 424.100, a number which forms a basis for some of the FHA changes . The new limits, which will be effective for loans with case numbers assigned on or after January 1 , will constitute a slight increase in 2,948 U.S. counties; limits will remain at 2016 levels in 286 counties . In so-called high cost areas, the national " ceiling " will increase to $636,150 from $625,000. The " floor " will increase to $275,665 from $271,050. The loan limit ceiling is 150 percent of the national conforming limit ($424,100) while the floor is set at 65 percent. The floor applies to
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Housing News
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The Federal Housing Administration (FHA) has now joined the Federal Housing Finance Agency in raising the dollar limits for loans that qualify for FHA guarantees. Last week FHFA raised limits for Fannie Mae and Freddie Mac loans to 424.100, a number ... (read more) |
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Mortgage Rate Watch
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Mortgage rates spiked abruptly today, bringing them to the highest levels in well over 2 years . The average lender is now quoting conventional 30yr fixed rates of 4.25% on top tier scenarios with more than a few already up to 4.375%. You'd have to g... (read more) |
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Mortgage Rate Watch
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Mortgage rates erased yesterday's losses after today's jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as "the jobs") is traditionally one of the biggest sources of market movement. So when rate... (read more) |
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MBS Commentary
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Have you heard the one about the falling knife? And how no one wants to catch it? That's one of the market's favorite analogies for the fear experienced by potential buyers of an asset whose price has fallen so rapidly that it " surely m... (read more) |
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Rob Chrisman
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Plenty of people are on the roads in December, traveling for the holidays. Ever curious about the basic differences between a road, a street, a boulevard, etc.? Well, here is a short, easy description . With 2018 a mere 13 months away, and the new Ad... (read more) |
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MBS Commentary
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Bonds began the day in the throes of yesterday's ongoing momentum. There was a bit of a pause during Asian market hours, but European trading quickly pushed US rates to new 2016 highs . Unlike most of the recent selling spree, European r... (read more) |
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