New Conforming Loan Limit of $548, 250 for Conventional Loans in 2021       The Federal Housing Finance Agency (FHFA) announced in November 2019 that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020 would be raised again to $548,250, effective January 1, 2020. […]

Mortgage Rates Hit Record Lows During July, 2020 Dipping Below 3%  to  2.98% on July 16, 2020 Ending at 3.01% on July 23, 2020       Interest Rates Drop for 3 Consecutive Weeks Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down […]

New Conforming Loan Limits for Conventional Loans in 2020 Plus Increases in FHA LIMITS       2021 CONFORMING LIMIT UPDATE:   Read More The 2021 maximum conforming loan limit for one-unit properties will be $548,250 an increase of $37,850 from $510,400 in 2020 for most areas of the US.  The average increase for the House […]

Freddie Mac PMMS Interest Rates Survey November 2019   Scroll down to see summaries of weekly rate updates October 31, 2019 Rate Survey MCLEAN, Va., Oct. 31, 2019 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.78 […]

Freddie Mac PMMS Interest Rates Survey October 2019     October 24, 2019 Survey Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.75 percent, the highest it’s been in 12 weeks. “The outlook for a favorable resolution to the trade dispute between the […]

Mortgage rates drop due to Wall Street’s tariff fears       A threat of Mexican tariffs could help home buyers and homeowners looking to refinance. Worried investors moved more money into bonds, which nudged the average 30-year fixed-rate mortgage down to 3.82% – a decline from last week’s 3.92%, the first to break below […]

The Federal Housing Finance Agency (FHFA) announced in November 2018 that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019 would be raised again to $484,350. PLEASE SEE A NEW POST ON THE NEW 2020 LOAN LIMITS FOR CONVENTIONAL AND FHA LOANS HERE – 1 Unit […]

How are Purchase Loans Made?    Steps to Homeownership: Before you get started looking for homes, it is good to do some preparation, so when you find the home you’re looking for, you are ready to make an offer and will have a smooth process until closing. Pre-Qualification and Pre-Approval: 1. Pre-qualification or Pre-Approval – […]