It’s crazy that it has taken this long to raise the limits for California. Hawaii, Alaska, US Virgin Islands and Guam all have limits 50% higher than the rest of the country. The increased limit may be temporary, but it will help drive down the rates on Jumbo’s because more lenders will get in the game and they’ll accept lower margins if GSE’s will buy their loans.
As for Bush, I cringe whenever I hear him talk about the economy or the housing market (or just bout anythig else for that matter). He has the same credibility as the “sideline reporter” on Monday Might Football discussing football strategy.
