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Mortgage
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FHFA Raises 2017 Conforming Loan Limits for
Fannie, Freddie
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The Federal Housing Finance Agency increased the
maximum conforming loan limits for mortgages acquired by Fannie Mae and
Freddie Mac in 2017. The limit for one-unit properties will rise to $424,100
from $417,000 in most of the country, the first increase in the baseline loan
limit since 2006.
The Housing and Economic Recovery Act of 2008 (HERA) established the baseline loan limit of $417,000 and requires this limit to be adjusted each year once the average U.S. home price returned to its pre-decline level. The FHFA’s House Price Index for the third quarter rose 1.5 percent from the previous quarter and registered a 1.7 percent rise from the third quarter of 2007. ICBA recognizes that while an increase in the conforming loan amount will help make conforming mortgage financing more widely available, it remains concerned that Fannie and Freddie are severely undercapitalized. The association is calling on FHFA Director Mel Watt to require the GSEs to develop and implement a capital restoration plan as required by HERA.
--ABA Daily Newsbytes
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St Casimirs Mortgage Minute. . . Help in navigating the mortgage application process. Get advice from Nelson Bayne, 410-342-1404 mortgage specialist with over 35 years of experience in the Baltimore metro area.
Monday, November 28, 2016
Loan Limits Raised
Monday, November 14, 2016
Mortgage Rates Climb Again
The rate for a 30-year fixed-rate mortgage averaged 3.57 percent this week, up from the previous week's 3.54 percent rate, Freddie Mac said on Thursday. At this time last year, the 30-year FRM rate averaged 3.98 percent.
This week's 15-year FRM averaged 2.88 percent, up from last week's 2.84 percent rate. A year ago, the 15-year FRM averaged 3.2 percent.
---ABA Daily Newsbytes
The rate for a 30-year fixed-rate mortgage averaged 3.57 percent this week, up from the previous week's 3.54 percent rate, Freddie Mac said on Thursday. At this time last year, the 30-year FRM rate averaged 3.98 percent.
This week's 15-year FRM averaged 2.88 percent, up from last week's 2.84 percent rate. A year ago, the 15-year FRM averaged 3.2 percent.
---ABA Daily Newsbytes
Mortgage Rates Climb Again
The rate for a 30-year fixed-rate mortgage averaged 3.57 percent this week, up from the previous week's 3.54 percent rate, Freddie Mac said on Thursday. At this time last year, the 30-year FRM rate averaged 3.98 percent.
This week's 15-year FRM averaged 2.88 percent, up from last week's 2.84 percent rate. A year ago, the 15-year FRM averaged 3.2 percent.
---ABA Daily Newsbytes
The rate for a 30-year fixed-rate mortgage averaged 3.57 percent this week, up from the previous week's 3.54 percent rate, Freddie Mac said on Thursday. At this time last year, the 30-year FRM rate averaged 3.98 percent.
This week's 15-year FRM averaged 2.88 percent, up from last week's 2.84 percent rate. A year ago, the 15-year FRM averaged 3.2 percent.
---ABA Daily Newsbytes
Friday, November 4, 2016
Friday Rate Update
Mortgage Rates Climb
The rate for a 30-year fixed-rate mortgage averaged 3.54 percent this week, up from the previous week's 3.47 percent rate, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 3.87 percent.
This week's 15-year FRM averaged 2.84 percent, up from last week's 2.78 percent rate. A year ago, the 15-year FRM averaged 3.09 percent.
---ABA Daily Newbytes
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