If you've been thinking of buying a home, refinancing, or are buying, but haven't locked in the rate yet because of market uncertainty...this is something you should know.
Sue Baker, our in-house lender, notified us this morning that the $729,000 conforming loans now available here in California must close by December 1, 2008. The law implies that the new maximum ($625,500) doesn't take effect until the new year, but this new time limit adds additional pressure on borrowers.
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