Another year of large increase in conforming loan limit

[henrysd]

Today Fannie Mae announced large conforming loan limit increase in 2019 to $484,350 from this year’s $453,100.

For high cost areas the limit can go as high as $726,525. For San Diego county the new limit is $690,000, an increase of $40,250. The recent 3 year 2016, 2017 and 2018 limits are $580,750, $612,950 and $649,750.

This increase should be a positive factor in local real estate price especially $800-900K price range.

[spdrun]

Hopefully to be offset by rates shooting past 5-6% next year. A good neighbor is one who’s selling short 😀

[FlyerInHi]

[quote=spdrun]Hopefully to be offset by rates shooting past 5-6% next year. A good neighbor is one who’s selling short :D[/quote]

Haha, I love it when fiscally conservative people borrow more. I’ve heard a lot of complaints lately from people “needing/wanting”, as if they were entitled to, higher appraisals and loan limits.

[gzz]

Henry, thanks for the good news.

Such a strange formula that is used to decide the limit, we got a bigger boost for 2019 despite 2018’s price increase being pretty moderate compared to a few years ago.

[scaredyclassic]

holy moly i thought it was still 417k.

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