After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency has now increased the conforming loan limit for the third straight year.
The FHFA announced Tuesday that it is increasing the conforming loan limit for Fannie and Freddie mortgages in nearly every part of the U.S.
According the FHFA, the conforming loan limits will rise from this year’s total of $453,100 to $484,350 for 2019. That’s an increase of 6.9% from this year’s loan limit to next year’s.
As stated above, this marks the third straight year that the FHFA has increased the conforming loan limits after not increasing them from 2006 to 2016.
Back in 2016, the FHFA increased the conforming loan limits from $417,000 to $424,100. Then, last year, the FHFA raised the loan limits from $424,100 to $453,100 for 2018.
And now, the FHFA is doing it again, increasing the loan limit from $453,100 to $484,350 for 2019.
Read more: https://www.housingwire.com/articles/47489-fannie-freddie-conforming-loan-limits-increase-in-nearly-every-part-of-the-us
By: Ben Lane, HousingWire