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Here is a quick update for Home Buyer's in today's real estate market:

*  FHA/VA loan rates are at 4.675% / 4.875%.  This is down from 5% (ish) only a few months prior.

Loan Limit Update!

High Balance Conforming (loan amounts between $417,000 and $697,500) 

"High Balance Confirming" product changes on the horizon... The temporary high balance loan limits are set to expire on September 30, 2011.  All indications are that Congress will not extend the temporary higher loan limits, but rather allow legislation to expire which will revert loan limits to the lower permanent high balance levels.

The total impact to product channels is not yet known as the Government segments have not announced what reductions they will implement.  If they expire, the maximum high balance loan amount will move from $729,750 to $625,500 in high-cost markets; such as San Diego.  San Diego is currently $697,500.

If you are curious how this affects you, drop us an Email.  We are happy to help.  The Lund Team!