Higher Conforming HOme Loan Limits

FHFA just raised the baseline conforming home loan limit 2024 by 5.5%.
This aligns with rising home prices, maintaining balance.

The Conforming Home Loan Limit is now $766,550 and High Balance Conforming Loan is now $1,149,825.
These limits are effective immediately, so you don’t have to wait till January to take advantage. 

What does this mean for you, whether you're buying or selling?
Buyers: 
1. Increased Affordability: Higher loan limits provide more purchasing power.
    Explore homes that were previously out of reach. 
2. Interest Rates: Monitor loan interest rates for potential shifts

Sellers: 
1. Expanded Buyer Pool: Higher loan limits attract more buyers.
  Consider this when pricing your home and highlighting your property value in marketing. 
2. Quick Decision-Making: Buyers may be more decisive.
​    Present your property well and be prepared to move quickly. 

The 10 year Treasury bond rate is now below 4.3% 
This means lower home loan interest rates. YAY! 

Pete Sabine 
Call or text 925.787.2548
[email protected]
Compass #00889760