Between bubbles bursting, stocks rallying then crashing and the big congressional pig races, we have seen quite a January!
On the up side, rates have stabilized and loan programs are beginning to make sense again. On the flip-side 'declining markets' (homes not worth as much this year as last year) are a reality that can impact short-term borrowing decisions made two to three years ago.
Still to be reviewed will be the loan limit increases being tossed around the pig pen in Washington. Realistically a conforming loan rate is usually a full per cent lower than a 'jumbo' loan rate so there is a savings to be had. But big loans are big loans with big payments no matter what you call them or how you categorize them! Lenders will still have to closely evaluate 'risk' and determine the quality of each loan package.
I'd love to hear views from other professionals in the field.
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