| Super Conforming Loan Limits Set to Expire September 30
In the midst of the 2008 and 2009 recession, FNMA and FHA loan limits were raised as high as $729,750 in our area to accomodate a struggling housing market and economy. As of September 30 these higher loan limits will expire. The new maximum high balance FNMA and FHA loan limit for our area will be $625,000. Thinking ahead: If you are a home buyer in that price range, the latest you can lock a loan rate for 60 days with the old loan limits will be the end of July. This is also important for Sellers to take note of, as it totally changes a buyer’s buying power and is more reason for you to get your house sold now if you are in the $800’s to low $1M’s range. |
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| Mortgage Interest Rates for Fixed Rate Mortgages* | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rates as of Monday, 11th July, 2011: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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