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 March 18, 2008

The Difference Conforming Loans will Make
The FHA, Fannie Mae and Freddie Mac new loan limits are expected to make a significant difference. By blending capital in the market should lower interest rates. Also, higher end areas such as Del Mar, Rancho Santa Fe and La Jolla will see a major difference in that those areas, in the past, normally required the much more costly jumbo loans.
The National Association of Realtors has provided research stating that by increasing the loan limits it will help nearly 140,000 people buy homes. The new limits will also give the opportunity to current homeowners, almost 200,000, to refinance their current mortgages. Most importantly, the new loan limits are predicted to stimulate a troubled housing market.

In January of 2008 the National Association of Realtors performed a study and their results indicate that by increasing conforming loans will allow the refinancing of nearly 500,000 loans and are predicted to prevent more than 200,000 foreclosures. Also foreseen is the possibility of more than 300,000 homes sales, which would lower inventory and stabilize home prices.

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