Interest rates are inching up and credit can still be hard to get but there is one bright spot for households hoping to buy a home soon: they can get a larger loan now, thanks to recent loan-limit increases for both conforming loans and loans backed by FHA.
The Federal Housing Finance Agency (FHFA) increased the conforming loan limit a few weeks ago, for the first time in 10 years, and it’s now at $424,100 in most markets, up from $417,000.
The latest Voice for Real Estate news video from NAR looks at the Commitment to Excellence program approved by the NAR Board of Directors. The voluntary program aims to increase the professionalism of the industry while also giving members a way to distinguish themselves from their competition. The video also looks at remarks by NAR Chief Lobbyist Jerry Giovaniello on the impact the elections are expected to have on residential and commercial real estate. Access and share the Voice for Real Estate.