The Office of Federal Housing Enterprise Oversight has announced that the conforming loan limit will remain at its current level of $417,000 in 2008. In light of ongoing home-price declines, the agency decided not to raise the maximum amount on mortgages that can be purchased by Fannie Mae and FreddieMac. The limit was last changed three years ago.
Conforming Loan Limit
November 29th, 2007 · 1 Comment
Tags: In The News
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1 Atlanta Real Estate // Dec 9, 2007 at 5:48 am
Everyone I talked with about this thought that the conforming limit was finally going to be raised. Oh well I guess the lenders got their way and still get to charge Jumbo Rates on any loans over $417,000. I don’t know how large of an impact it would make to raise the conforming limits, but I have to think it be a positive step in this unsettled mortgage market.
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