So much is happening in real estate loan regulation...and not just the status $8000 credit, which does not have the support in congress that we had anticipated.
Interest rates have been rising in the past week, and this is a bad time for the new loan limits to be expiring. Unless the government extends the $729,000 limit again, we will revert back to a $625,500 limit on conforming loans that do not close by December 18 of this year. Last year, it took three months before the higher rates came back into effect.
A bit of good news: the HVCC (Home Valuation Code of Conduct) that has put a stranglehold on home appraisals, may be revoked soon.
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