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Conforming Loan Limit Increased from $424k to $453k
  Mortgage Market Update
Nov 28, 2017 12:37 PM ET

Because it's mandated by the Housing and economic Recovery Act, we knew that conforming loan limits would be going up this year, and that the FHFA tends to announce the change following its 3rd quarter home price data.  We just didn't know exactly what the increase would be.

Following today's announcement of a 6.8% annual increase (Q3 vs Q3), FHFA has upped the conforming loan limits as follows:

  • $453,100 (vs $424,100 in 2017)
  • High cost area ceiling: $679,650

Here are several links pertaining to the news:

MBS / Treasury Market Data

UMBS 5.5
97.31
0.00
UMBS 6.0
99.32
+0.02
UMBS 6.5
101.10
+0.01
2 YR
4.9739
-0.0155
10 YR
4.6145
-0.0120
Pricing as of: 4/19 5:04PM EST
This Mortgage Market Update is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.

Average Mortgage Rates

Rate Change Points
30 Yr. Fixed 7.44% +0.01 --
15 Yr. Fixed 6.85% +0.01 --
30 Yr. FHA 6.92% +0.02 --
30 Yr. Jumbo 7.62% 0.00 --
5/1 ARM 7.41% +0.01 --
Source: Mortgage News Daily
Rate Change Points
30 Yr. Fixed 7.13% +0.12 0.00
15 Yr. Fixed 6.64% +0.18 0.64
30 Yr. FHA 6.90% +0.10 0.99
30 Yr. Jumbo 7.40% +0.27 0.46
5/1 ARM 6.52% +0.11 0.60
Source: The Mortgage Bankers Association
Rate Change Points
30 Yr. Fixed 7.10% -0.34 0.00
15 Yr. Fixed 6.39% -0.37 0.00
Source: Freddie Mac
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Market Data

MBS Price Change
UMBS 5.5 97.31 0.00
UMBS 6.0 99.32 +0.02
UMBS 6.5 101.10 +0.01
GNMA 5.5 98.08 +0.01
GNMA 6.0 100.08 +0.02
GNMA 6.5 101.21 +0.06
US Treasuries Yield Change
2 YR 4.974 -0.016
5 YR 4.659 -0.018
10 YR 4.615 -0.012
30 YR 4.716 -0.016
Pricing as of: 4/19 5:04PM EST

Recent Housing Data

Value Change
Mortgage Apps Apr 17 202.1 3.27%
Building Permits Mar 1 1.46M -3.95%
Housing Starts Mar 1 1.32M -13.15%
New Home Sales Feb 1 662K 0.15%
Pending Home Sales Feb 1 75.6 1.75%
Existing Home Sales Feb 1 3.97M -0.75%
Builder Confidence Mar 1 51 6.25%

Recent News