The maximum baseline conforming loan limit is increasing from 417k to $424,100 in 2017.
The max conforming loan has been $417k since 2006.
Home prices were 1.7% higher in the third quarter of 2016 than during the same period in 2007. This is according to Federal Housing Finance Agency’s Home Price Index. The increase to the baseline conforming loan limit matches the 1.7% uptick.
That’s it for today!
Have a good day today!
…and thanks for reading.