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

December 4, 2019 Download our Mobile App: Download our Mobile App: Housing News FHA 2020 Loan Limits Set 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) Mortgage Rate Watch Mortgage Rates Near Recent Lows Despite Moving Up Today 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) Housing News Mortgage Apps Hit on a Technicality, But Purchases Still Increased 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) Housing News Housing Construction too Slow for Growing Population of Millennials 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) MBS Commentary MBS Live Recap: Bonds at The Whim of Trade Headlines 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) Rob Chrisman Construction, Rental, and Reno Products; M&A Update; Training & Events for Dec. 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) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.02 0.00 15 Yr. Fixed 5.98% +0.01 0.00 30 Yr. FHA 6.27% +0.02 0.00 30 Yr. Jumbo 6.85% +0.01 0.00 7/6 SOFR ARM 6.32% -0.01 0.00 30 Yr. VA 6.29% +0.03 0.00 Updates Daily - Last Update: 7/3 15 Yr. Fixed Rate 5.98% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.74 +0.10 Price / Yield Change MBS UMBS 5.5 99.74 +0.10 UMBS 6.0 101.53 +0.10 GNMA 5.5 99.94 +0.08 GNMA 6.0 101.43 +0.08 Pricing as of: 7/7 3:38AM EST 10 Year US Treasury 4.3250 -0.0217 Price / Yield Change US Treasury 2 YR Treasury 3.856 -0.027 5 YR Treasury 3.908 -0.029 7 YR Treasury 4.099 -0.026 10 YR Treasury 4.323 -0.024 30 YR Treasury 4.848 -0.016 Pricing as of: 7/7 3:38AM EST Latest Video Housing in 2020 will be most challenging for buyers: Economist 2020 housing supply could hit historic lows: Report November ISM nonmanufacturing misses expectations, 53.9 vs. 54.5 expected Trump: Trade talks with China are going well Around the Web NAR - Realtor.com Bye-Bye, VA Loan Limits: What This Means for Veterans Buying a Home Calculated Risk Blog Black Knight: House Price Index up 0.3% in October, Up 4.3% year-over-year consumerfinancemonitor.com CFPB and FTC announce issues for panels at Dec. 10 workshop on accuracy in consumer reporting CNBC Job growth is slowing in the trade war but that may not be clear in Friday's payroll data CNBC Steve Case: The 230 cities that lost HQ2 'perhaps can create the next Amazon' Reuters Stocks rally on renewed trade talk optimism, yields rise Reuters Oil jumps 4% on U.S. stockpiles drop; further OPEC output cuts seen Reuters Trump cancels his NATO summit news conference Reuters U.S. service sector slows more than expected in November CNBC November ISM non-manufacturing index comes in at 53.9, vs 54.5 estimate Reuters Trump says trade talks with China going 'very well' NAHB Eye on Housing New Homes Built with Private Wells and Individual Septic Systems in 2018 Reuters Futures jump on report of U.S., China nearing phase-one trade deal

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