Well, there’s been a pretty nice about face when it comes to Conforming loan limits. They were $729,750 as a result of the mortgage meltdown a few years ago but the Federal Government decided that the should be lowered down to $625,000. Surprisingly to me, the Feds decided last week to raise it again to the $729,750 number through 2013. That’s pretty darn good news for folks in this area as it certainly allows more bang for your buck when it comes to purchases and refis.
Here’s the story as reported by Reuters: