So, this week the Mortgage Bankers Association begins its annual conference. It's not all gloom amongst this bunch.
Why not?
Well, the MBA is lobbying for a nationwide raise to the conforming loan limit from $417,000 to $625,000.
This would bring a welcome sigh of relief to many here in Minnesota whose loan amounts are just above the current conforming limit as that part of the marketplace is the hardest hit. If you need a loan amount above $417,001 it can be tough going and the current rates aren't always that attractive.
If this comes to pass, I'll let you know.
Comments