I know that many folks are supportive of this latest move by the government to help the housing market. I suppose it won't hurt anything, but I'm still trying to figure out if it helped anything here in Santa Barbara over the last year.
I don't believe any of the lenders I am familiar with have ever treated a loan between $417,000 and $729,000 as a conforming loan. They treat them as Jumbo Conforming which is an entirely different animal when it comes to the rate.
I believe that some of the increase we have experienced in the lower price points in our market are due to excellent loan rates below $417,000. I also believe that the higher rates over $417,000 have hampered the housing market above $500,000 in Santa Barbara.
Tell me what you think!
For additional reading
New Conforming Loan Limit Has Too Many Strings
Wild, Wild West: California Cold To 'Jumbo Conforming' Loans
Goleta Council, Community Recognize Roger Aceves for 16 Years of Service to
City
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He is the longest-serving council member in city history and has never
missed a meeting; his term officially ends on Dec. 20
2 years ago
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