These HUGE updates in the real estate market could significantly impact your home buying or selling plans. And they’re not just interesting – they're potentially game-changing!

Increased Loan Limits

Let's dive into the big news first: the increase in loan limits. The conventional loan limit has now been increased to $765,550, and the FHA loan limit has risen to $621,000.

What does that mean?

Any mortgage amount above these new loan limits is considered a Jumbo loan which usually has stricter requirements to qualify such as higher credit scores, higher down payments, and lower debt-to-income ratios.

You can now buy a home for up to $805,000 with only 5% down using a conventional loan. If you’re getting an FHA loan, you can now buy a home for…

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Just when we thought mortgage rates were on a one-way trip to the sky, they've thrown us a curveball. Last week, we were looking at a pretty steep 7.92% for the average 30-year fixed mortgage rate. Fast forward to today, and it's like we're in a whole new world – and a much better one for anyone thinking about buying or selling a home!

We saw something similar last November when rates had shot up to new highs before some unexpectedly good economic news came along and gave them a nudge back down.

Last year, it was a surprisingly low inflation report that got everyone's hopes up. But that turned out to be a bit of a tease, and rates didn't really start to come down until February 2023. Since then, it's been mostly uphill.

This week, though,…

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