July 25, 2011
The Last Days
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Are quickly approaching for homes priced above $600,300 in three Utah counties.
The current loan conforming limits constrain the size of home mortgages that Fannie Mae or Freddie Mac may purchase or securitize. After the 30th of September, these enterprises will no longer be able to buy or secure mortgages above $600,300 in three of Utah’s counties. This drop is over $129,000 from the current limit. As a result, it is predicted that home prices above the $600,300 limit in Salt Lake, Tooele and Summit County will fall.
It’s bad news for sellers – good and/or bad news for buyers depending on the situation. Ask The Sears Team to help you determine if this date will affect you.
Posted by: 
Brad & Liz Sears
Tagged With:
fannie mae,
freddie mac,
home mortgage,
liz sears,
mortgage loan limits,
pricing thresholds
and the sears team
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