Loan limits were frozen in place at $417,000 for 10 long years after the housing bust, but were finally raised on January 1 of this year. Rapidly increasing home prices have now allowed the Federal Housing Finance Agency (FHFA) to increase them again for 2018. The maximum conforming loan limits for mortgages eligible to be acquired by Fannie Mae and Freddie Mac (the GSEs) in most of the U.S. starting on January 1 will be $453,100, an increase from $424,100 in 2017. The Veterans Administration and FHA are expected to follow suit, raising limits for their own loans. The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit for the GSEs be adjusted each year to reflect the change in the average U.S. home price. FHFA published its third quarter House Price Index

November 28, 2017 Download our Mobile App: Download our Mobile App: Housing News FHFA Raises Conforming Loan Limit to $453k Loan limits were frozen in place at $417,000 for 10 long years after the housing bust, but were finally raised on January 1 of this year. Rapidly increasing home prices have now allowed the Federal Housing Finance Agency (FHFA) to increase them again... (read more) Housing News Home Price Gains "Appear Unstoppable" In October, David Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, said home price increases "appear unstoppable." The latest reports on both the S&P CoreLogic Case-Shiller Home Price Indices and the Ho... (read more) Rob Chrisman Flood Insurance Status; Banks in the News; LO Products Remember when everyone waited with bated breath for Fannie & Freddie’s loan limit announcement? (It happens every year around Thanksgiving, in recent years after the FHFA releases its home price index.) But that was in the days when jumbo r... (read more) MBS Commentary MBS Live Day Ahead: The Waiting Continues Not much will be able to change about the recent analysis until markets actually make a move.  In a nutshell, the recent analysis holds that we've been waiting for a breakout from a consolidative range that began with the highs and lows seen i... (read more) Housing News Home Price Gains Continue Cooling Off Black Knight Financial Services reported on Monday that home prices as measured by its national Home Price Index (HPI) continued to slow on a monthly basis, although the year-over-year rate continues to accelerate. The company said the HPI rose 0.16 ... (read more) Mortgage Rate Watch Mortgage Rates Improve Slightly Despite Market Volatility Mortgage rates improved modestly today as markets digested tax bill headlines and the confirmation hearing for new Fed Chair Jerome Powell. As the head of the institution that has the biggest impact on short-term rate momentum, Powell is an important... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.78% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.78% +0.01 0.00 15 Yr. Fixed 6.04% +0.01 0.00 30 Yr. FHA 6.36% +0.01 0.00 30 Yr. Jumbo 6.90% 0.00 0.00 7/6 SOFR ARM 6.25% 0.00 0.00 30 Yr. VA 6.38% +0.02 0.00 Updates Daily - Last Update: 7/23 15 Yr. Fixed Rate 6.04% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.84% +0.02 0.62 15 Yr. Fixed 6.14% +0.03 0.69 30 Yr. Jumbo 6.75% -0.06 0.70 Updates Weekly - Last Update: 7/23 MBS / Treasuries UMBS 30YR 5.5 99.41 -0.10 Price / Yield Change MBS UMBS 5.5 99.34 -0.16 UMBS 6.0 101.27 -0.13 GNMA 5.5 99.61 -0.17 GNMA 6.0 101.26 -0.06 Pricing as of: 7/23 1:08PM EST 10 Year US Treasury 4.3758 +0.0298 Price / Yield Change US Treasury 2 YR Treasury 3.877 +0.048 5 YR Treasury 3.932 +0.047 7 YR Treasury 4.147 +0.049 10 YR Treasury 4.392 +0.046 30 YR Treasury 4.960 +0.043 Pricing as of: 7/23 1:08PM EST Latest Video Senate Budget Committee advances tax bill Fed Chair Nominee Powell gives dovish testimony on Capitol Hill Wells Fargo overcharged business customers, says WSJ Around the Web CNBC Home Depot shares hit all-time high as housing momentum swells, company advances mobile initiatives Calculated Risk Blog Zillow Case-Shiller Forecast: More Solid House Price Gains in October Redfin A Third of Homebuyers Will Consider Moving to Another State if SALT Deductions Are Eliminated Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices Reuters Senate tax drama intensifies; Democrats pull out of Trump meeting Reuters U.S. budget chief Mulvaney says CFPB staff should 'disregard' deputy director: memo CNBC Tax reform rush and shutdown threat make for a messy December in Washington NY Times Federal Reserve Nominee Sees Continuity if Confirmed NAR - Realtor.com You Will Never Guess Where Home Prices Are Shooting Up the Most Reuters Fed chair nominee Powell says case for rate hike 'coming together' CNBC Fed nominee Powell backs 'tailoring' regulations to ease up on small banks Calculated Risk Blog Richmond Fed: "Fifth District Manufacturing Activity Saw Robust Growth in November" CNBC Consumer confidence hits 129.5 in November vs expectation of 124

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