Fannie and Freddie Loan Limits for 2019
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 to the FHFA, the conforming loan limits will rise from this year’s total of $453,100 to $484,350 for 2019.
” According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.9 percent, on average, between the third quarters of 2017 and 2018. Therefore, the baseline maximum conforming loan limit in 2019 will increase by the same percentage. ” – Federal Housing Financing Agency
When Does the Conforming Loan Limit Change?
- It doesn’t change every year
- But any changes are announced in November
- Based on October-to-October home price movement
- And go into effect the following January
“A higher conforming loan limit means more buyers can qualify for loans backed by Fannie Mae and Freddie Mac for higher-priced homes.” ~Jeff Clabuah, WTOP