As you may know, loan limits are now as follows: conforming loan limits are $417,000, and jumbo conforming limits are $729,750. These limits will expire soon. The last day to lock a rate at these limits is December 1; the last day a loan can fund at these rates is December 10 (thanks, Dana). The new limits have not been confirmed yet, but it looks like the jumbo conforming limit will drop to $625,000.
And more news from FHA: the minimum downpayment will rise to 3-1/2% from 3%. Right now, FHA interest rates are over 7%. Yikes! Are they trying to kill us?
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
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