Helping Washington State homeowners learn more about their mortgage options.
This week, I address how mortgage rates reacted to the Fed’s 50 basis point drop to the Fed funds rate and what may impact rates this week. Fannie Mae has an optimistic forecast for mortgage rates and we have 2025 “temporary” conforming loan limits available!
Check out my latest video for more info!
Conforming loan limits will be going up in 2024 across the country. Conforming high balance loan amounts for Washington state will remain unchanged from 2023.
Here are the 2024 conforming loan limits:
The following counties have “high balance” loan limits
King County, Pierce County and Snohomish County: [Read more…]
Typically in late November, conforming loan limits are announced for the following year. Loan amounts under the conforming loan limit tend to have lower interest rates than loan amounts that are “high balance conforming” (available in certain counties, such as King, Pierce and Snohomish) or jumbo mortgages. [Read more…]
Conforming loan limits are increasing for 2020 to $510,400 for a single family dwelling. Counties that are considered “high cost” such as King County, Pierce County and Snohomish County qualify to have a “high balance conforming” loan limit of $741,750. [Read more…]
Conforming loan limits are getting their first increase in ten years.
Conforming high balance areas for King, Snohomish and Pierce counties have have higher limits for 2017 as well.
San Juan County’s high balance conforming loan limit is unchanged from 2016. [Read more…]
Conforming loan limits have been increased for 2017. The last time conforming loan limits were raised was in 2006. Conforming loan limits for the last ten years for a single family dwelling have been limited to $417,000, unless the home was located in a county with a high balance conforming loan limit. High balance conforming loan limits for the greater Seattle area have been raised as well to $592,250 for a single family dwelling. [Read more…]
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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