Call me Captain Obvious but here’s the news in case you missed it…
Straight from the OFHEO (Office of Federal Housing Enterprise Oversight) Press Release Issued on Tuesday, November 27th:
“Director James B. Lockhart…announced the maximum 2008 conforming loan limit for single-family mortgages purchased by Fannie Mae and Freddie Mac (the Enterprises) will remain at the 2007 level of $417,000 for one-unit properties for most of the U.S. Higher limits apply to Alaska, Hawaii, Guam and the U.S. Virgin Islands as well as to properties with more than one unit.”
I guess Californians won’t be getting that “break” they were looking for and neither will all those other non-conforming markets. But not to worry, all isn’t lost!
Entries (RSS)