Mike Heath

Realtor

Gaylord

700 W. Main Street

Gaylord, MI49735

Mike Heath › Blog › Big interest savings on jumbo loans

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Big interest savings on jumbo loans

Fortune/CNN's Allan Sloan reports great news on a real GDP stimulus policy enactment.  The federal government has raised the ceiling on loan amounts that "conform", i.e., loans that lenders can sell to Fannie Mae and Freddie Mac.  This allows buyers purchasing homes with loan balances greater than $500,000 to save thousands of dollars annually on interest expense.  This effect should provide upward price pressure for all homeowners because it allows high-end buyers to purchase more home given lower interest rates.  This enactment alone won't turn this buyers' market into a sellers' market, but it certainly helps.
Posted by Mike Heath @ 7:50 AM on 04/30/2008
Tags: Financing Good Busines News Market Pressure National Real Estate News