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Federal Housing Administration (FHA) Commissioner Brian D. Montgomery has announced the loan limits for FHA forward mortgages in 2020. The limits are based on the conforming loan limis announced last week by the Federal Housing Finance Agency (FHFA) for loans acquired by Fannie Mae and Freddie Mac. That basic conforming limit will be $510,400 for most of the United States, up from $484,350 in 2019. The conforming loan limits are calculated based on the annual increase in the 2019 FHFA Housing Price Index for the third quarter of the year which was 5.38 percent. Using that limit, FHA sets its own limits with a floor and a ceiling. The floor applies to those areas where 115 percent of the median home price is less than 65 percent of the base limit for 2020 that low cost limit will be $331,760
Housing News
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Federal Housing Administration (FHA) Commissioner Brian D. Montgomery has announced the loan limits for FHA forward mortgages in 2020. The limits are based on the conforming loan limis announced last week by the Federal Housing Finance Agency (FHFA) ... (read more)
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Mortgage Rate Watch
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Mortgage rates dropped sharply yesterday after having risen to the highest levels in 2 weeks the day before. Yesterday's culprit was trade war related, but today had a more robust calendar of potentially market moving data. So did the data end up mov... (read more)
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Housing News
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Mortgage activity during the week ended November 29 was predictably impacted by the Thanksgiving Day holiday which effectively shortened the business week to three days. The Mortgage Bankers Association (MBA) says its data on application volume conta... (read more)
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Housing News
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There is widespread industry concern that new homes and apartment buildings are not being constructed fast enough to keep up with demand and now the National Association of Home Builders (NAHB) says there is a mismatch between where they are being bu... (read more)
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MBS Commentary
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Bonds sold off clearly and somewhat abruptly following a Bloomberg article on the trade negotiations being in better shape than markets might assume based on the previous day's trade headlines (which were also the biggest market movers of the day).&n... (read more)
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Rob Chrisman
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There’s an old saying among economists regarding predicting the future. “You can put a date on it, and you can put a number on it, but you can’t do both.” Sure there will be a recession, eventually. Just like there will be mor... (read more)
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consumerfinancemonitor.com
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