Our Beautiful House
  • Home
  • Decorate
    Decorate
    Show More
    Top News
    40 of the Best Home Decor Stores in America
    August 29, 2020
    7 Easy Ways to Spruce Up Your Home While Sheltering at Home
    August 2, 2020
    Japandi – The Hottest Global Design Trend
    May 31, 2022
    Latest News
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
    10 Home Renovations That You Should Splurge on
    July 8, 2023
    Top 15 Modern Interior Designs You Need To Know
    June 1, 2023
    10 Home Repairs to Leave to the Pros
    May 18, 2023
  • Rooms
    Rooms
    Show More
    Top News
    Interior Designs Tips for Your Bedroom
    August 11, 2021
    Simple Steps of Kitchen Remodeling
    May 21, 2023
    5 Nursery Design Trends for the Modern Home
    August 1, 2023
    Latest News
    5 Nursery Design Trends for the Modern Home
    August 1, 2023
    40 Gorgeously Minimalist Living Rooms That Find Substance in Simplicity
    July 1, 2023
    14 Creative Kids Bathroom Decor Ideas
    May 28, 2023
    Simple Steps of Kitchen Remodeling
    May 21, 2023
  • Outdoor
    Outdoor
    Show More
    Top News
    How to Landscape on a Budget
    October 6, 2020
    25 Chic Modern Outdoor Furniture Ideas
    November 7, 2022
    5 Mistakes To Avoid With Your Quarantine Garden Before the First Fall Frost
    September 24, 2020
    Latest News
    5 Best DIY Landscaping Ideas
    November 22, 2022
    15 Fun Backyard Ideas That Kids Will Surely Enjoy
    November 14, 2022
    25 Chic Modern Outdoor Furniture Ideas
    November 7, 2022
    Small deck ideas: 31 budget decking designs for tiny gardens
    October 18, 2022
  • Lifestyle
    Lifestyle
    Show More
    Top News
    Miami Ranked Among Top Coffee Cities in America
    June 24, 2020
    20 New Year’s Movies That Will Convince You That Staying In Is the Best
    December 4, 2020
    7 of the Best Cities for Remote Working
    August 13, 2020
    Latest News
    The Best Basement Organizing Tips and Tricks
    January 6, 2024
    Top 50 Christmas Gifts for the Entire Family
    December 1, 2023
    Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
    November 4, 2023
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
  • Real Estate
    Real Estate
    Show More
    Top News
    Comparative Market Analysis: What is a CMA Report for Real Estate Buyers?
    June 2, 2020
    10 Home Inspection Issues Red Flags
    January 7, 2021
    Can You Sell Your House Before Paying Off the Mortgage?
    June 8, 2020
    Latest News
    What Are Your Real Estate Goals?
    January 2, 2024
    Two Ways Homebuyers Can Win in Today’s Market
    August 6, 2023
    Home Renovations for the Aging Population
    July 24, 2023
    The Benefits of Owning a Second Home
    July 6, 2023
  • Contact
Reading: Fannie Mae, Freddie Mac will Soon Let Borrowers Take Out Mortgages Over $500K
Share
0

No products in the cart.

Notification Show More
Latest News
The Best Basement Organizing Tips and Tricks
Organization
What Are Your Real Estate Goals?
Real Estate
Top 50 Christmas Gifts for the Entire Family
Lifestyle
Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
Lifestyle
Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
Decorate Lifestyle
Aa
Our Beautiful House
0
Aa
Search
  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Follow US
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Our Beautiful House > Blog > Real Estate > Fannie Mae, Freddie Mac will Soon Let Borrowers Take Out Mortgages Over $500K
Real Estate

Fannie Mae, Freddie Mac will Soon Let Borrowers Take Out Mortgages Over $500K

Last updated: 2022/11/03 at 8:28 AM
By Stefan #TheListingBroker - Real Estate
Share
3 Min Read
SHARE

The Federal Housing Finance Agency announced Tuesday that it will increase the limit on conforming loans, meaning mortgages that adhere to the standards imposed by Fannie Mae FNMA-1.07% and Freddie Mac FMCCto a maximum of $510,400 nationwide. In high-cost areas, the maximum loan limit for mortgages acquired by Fannie Mae and Freddie Mac will be $765,600.

On a local level, the loan limits were set higher in all but 43 counties across the country, the FHFA reported. The FHFA published a full list of the loan limits for each county nationwide for borrowers to reference.

By law, conforming loan limits must be adjusted to reflect changes in home prices across the U.S. The FHFA noted that its data show home prices had increased on average 5.38% between the third quarters of 2018 and 2019. Therefore, the loan limits increased by that percentage. In high-cost areas, the law allows loan limits to be set 50% higher than the baseline level nationally. Special provisions also establish different loan limit calculations for Alaska, Hawaii, Guam and the U.S. Virgin Islands.

This is the fourth consecutive year that the conforming loan limit has increased. Between 2006 and 2016, the FHFA held loan limits at $417,000. When loan limits were increased for the first time in 2017, it sparked enthusiasm across the mortgage industry as lenders expected it could lead to more people seeking home loans, because the lower loan limit forced many people to get jumbo loans that don’t always offer competitive financing.

Higher loan limits aren’t necessarily something to celebrate though. Some market observers have argued that by allowing Fannie and Freddie to purchase larger loans, the FHFA is increasing the risk that they will go belly-up the next time there’s a market downturn.

And for consumers, the higher limits are an indication that while home price growth has slowed from its breakneck pace in recent year, prices are still heading higher. That’s exacerbating the affordability crisis occurring in many housing markets across the country, keeping thousands of would-be home buyers out of the market.

Credit: marketwatch

TAGGED: borrowers, fannie mae, freddie mac, mortgages
Stefan #TheListingBroker - Real Estate December 14, 2019
Share this Article
Facebook Twitter Email Print
How you feel with this article?
Love0
Happy0
Surprise0
Wink0
Sleepy0
Sad0
Angry0
By Stefan #TheListingBroker - Real Estate
Stefan is a Real Estate Broker and REALTOR® with over 8 years of professional experience. Prior to starting his real estate career, Stefan spent 11 years as a foreclosure defense and divorce attorney (quite a combo, huh)? Conducting a real estate business with a a diverse legal background has allowed him to gain unique experiences that make him a well-rounded resource for his clients. Stefan is a proud Florida State University alumni, having earthed his bachelor’s degree in Management, prior to attending law school.
Leave a review Leave a review

Leave a review Cancel reply

Your email address will not be published. Required fields are marked *

Please select a rating!

Our Beautiful House 

  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Subscribe to Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Find Us on Socials

© 2022 by #TheListingBroker. All Rights Reserved.

✕

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?