Breaking News: Higher Conforming Loan Limit to be Extended Through 2010.

News is spreading today that both houses of Congress have passed a resolution which will keep the higher conforming loan limits in place through 2010, and is now pending President Obama’s signature.  The current loan limit extension was set to expire at the end of this year.    If this comes to pass, this will be great news for home buyers in higher-priced regions such as the San Francisco Bay Area, since it will keep the conforming loan limit at $729,950.

Since the loan limit was temporarily increased in 2008, it has easily become the most popular loan written by the major lenders in this area, even for properties selling north of $1M.  As I have stated numerous times in this blog, I believe it has been the most effective stimulus act that has been put in place, by far.  Here’s a post with some additional details:

Conforming Loan Limits Extended Through 2010

This is extremely good news for buyers and sellers alike, and should serve to keep the current market momentum going into the new year.

—————————————-

___________________________________________________________________
Psst!!.. do you like what you’re reading? Click here to subscribe to the site for free, and you’ll get updates sent automatically to you. And for more information about San Carlos, be sure to follow the White Oaks Blog on Facebook and on Twitter.
________________________________________________________________

1. What will happen to the $729,000 conforming loan?
2. The “Real Estate Minute” Podcast for 2-25-08: Extending the Conforming Loan Limits…is it hope or hype?
3. Why the New Tax Credit is Not a Big Deal for San Carlos…
4. Breaking News: San Carlos School District to cut $1.4M from next year’s budget.
5. Breaking News: School District Officially Changes San Carlos Elementary School Boundaries.