Higher Loan Limits Approved

At the end of last week Congress passed and the President signed legislation to restore higher Fannie Mae, Freddie Mac, and FHA conforming loan limits of $729,750.  Those limits had been reduced  expired Oct. 1, when it was reduced to $625,500 on October 1st and, at that time, the restoration of the higher limits which particularly effect our market area seemed very much in doubt.  The higher limits are good through December 2013.