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Pix Baird Warner (Darien IL Homes for Sale)

Pix Baird Warner (Darien IL Homes for Sale)

Sunday, December 4, 2011

…And the Changes Keep Coming

 

AnnoyedBusinessman With an election year right around the corner, it seems obvious that the world is full of flip-floppers, so why should housing and mortgage policy-makers be any different?

  • Remember when the Federal Government was trying to ease its way out of being the dominant provider of mortgage financing (and trying to move people more into the private sector and Private Mortgage Insurance)?
  • Remember the days when government insured financing (through FHA loans) was capped at 85% of their conventional counterparts (from Fannie Mae and Freddie Mac)?
  • Then, the government recently decided to LOWER the conforming loan limits in high cost areas from $729,750 back to $625,500. The logic was sound. Home values have declined, therefore, so should conforming loan limits.

Read the rest of the story here

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