Posted To: Pipeline Press

Welcome to the first Friday the 13th of 2020 since March. What an eight months! Cindy E. writes, “The longer I stay at home, the more homeless I look.” I start fielding emails every year around this time about the following year’s conforming loan limits and the impact on home ownership. It was a bigger deal in the past, when the price difference between jumbo and conforming was greater, but every year the threesome of Fannie, Freddie, and the FHFA announce conforming parameters around or after Thanksgiving. Stay tuned for a few weeks, but the jungle drums are beating somewhere around $535k (versus 2020’s maximum of $510,400 and 2019’s of $484,350; units and states aside). With rates these low, with these high loan amounts, plenty of renters are considering owning…(read more)

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Source: Mortgage News Daily