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The conforming loan limit for most of the U.S. will, quite predictably, move higher on January 1. The Federal Housing Finance Agency announced on Tuesday that the maximum origination balance for loans purchased or acquired by the GSEs Fannie Mae and Freddie Mac during 2020 will increase to $510,400. The conforming limit for 2019 is $484,350. In areas where the median home value is 115 percent of the new baseline loan limit the conforming limit is higher than that baseline but cannot exceed 150 percent of it. That calculation caps the loan limit for these "high cost" areas at $765,600, or 150 percent of $510,400. The high cost limit this year is $726,525. Special statutory provisions establish different loan limit calculations for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. For 2020 the
Housing News
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The conforming loan limit for most of the U.S. will, quite predictably, move higher on January 1. The Federal Housing Finance Agency announced on Tuesday that the maximum origination balance for loans purchased or acquired by the GSEs Fannie Mae and ... (read more)
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Housing News
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The headline for the new home sales report for October was the year-over-year increase in sales. While sales of newly constructed homes were actually slightly lower than in September, they surged to surpass sales a year earlier by 31.6 percent, more ... (read more)
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Housing News
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While it is only incremental, home price increases appear to have stopped decelerating and are again creeping slowly upward . Both the S&P CoreLogic Case-Shiller Indices and the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI) ... (read more)
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MBS Commentary
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Bonds have been doing fairly well for the past 2.5 weeks as yields have backed down from the 3-month highs seen at the beginning of the month. Over the past 4 business days, momentum has been more sideways than anything as traders look to be ci... (read more)
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Rob Chrisman
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“Rob, with the announcement a while back that Quicken Loans inked a mortgage deal with Charles Schwab, and now with Schwab buying TD Ameritrade, do you think Quicken will go after those customers as well?” Gee, do ya’ think? And for... (read more)
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Mortgage Rate Watch
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Mortgage rates recovered today after moving higher for the first time in nearly 2 weeks yesterday. In the bigger picture, rates have been in a back-and-forth pattern near long-term lows. Most of October and early November were spent with rates moving... (read more)
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consumerfinancemonitor.com
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