Danny Salas

Welcome to Access Real Estate Lending

Welcome, Real Estate Agents & New Readers, to AccessLoans.net  Our top two articles, Industry Updatesand Interest Rate Updates, are updated regularly.  Industry Updates is primarily a Real Estate Agent’s Informative site, educating Real Estate Agents as to current changes in the Real Estate Lending Industry.  Interest Rate Updates are for all readers to follow.  It helps understand what makes rates move up and down and what drives that market.  Scroll below to enjoy the most recent articles from similar topics.

Chico Real Estate Loan Industry Updates

Chico Real Estate Interest Rates Updates

Chico, CA Interest Rates Market Report – Economic Influences – November 20, 2009

Rates Are Too Low NOT To Lock

No News Day

There are no economic reports to discuss today.  No news means that bonds will likely take the opposite direction of Stocks.  It’s the third consecutive day that Stocks are falling, so Bonds should fall…therefore have higher yields, therefore higher rates.  But it’s a close call, as Bonds have remained at high levels, giving us excellent interest rates this past week.  I would lock, however, as it doesn’t get any better than this.

To See Rates

Just click on the blog and go about half-way down the page, on the left hand side, as you’ll see the US Average Rates…24/7!

Recond Treasury Note Auction

Next week, we’ll see a Record Auction of Treasuries…AGAIN!  I’ll report on this, probably Tuesday!  I’m off to Austin, Texas for the weekend to see a friend get married!  Have an excellent weekend and if you don’t hear from me Monday…you will on Tuesday!

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Freddie Mac Announcement Regarding Loan Limits for 2010

Fannie Mae & Freddie Mac Loan Limits Extended to 2010

Freddie Mac Maximum Loan Limits Are Unchanged for 2010

On November 12, Freddie Mac announced that our base conforming loan limits will be maintained at their current 2009 levels for 2010, with the maximum loan limit for a 1-unit single-family property remaining at $417,000. The temporary high-cost loan limits for properties located in designated high-cost areas will remain unchanged for 2010 as well.

- High-Cost Loan Limits

As a reminder, the loan limits in designated high-cost areas are the higher of the temporary limits established by the Economic Stimulus Act of 2008 (maximum of $729,750 for 1-unit single-family properties) and the permanent limits established by the Housing and Economic Recovery Act of 2008 (maximum of $625,500 for 1-unit single-family properties).

Actual loan limits for a specific high-cost area may be lower than the maximum permitted loan limit. It is important that you review the 2010 loan limits permitted for a specific county, which the Federal Housing Finance Agency (FHFA) determines and makes available on its Web site <http://www.fhfa.gov/Default.aspx?Page=185>.

- Super Conforming Mortgages

The recently enacted extension of the high-cost loan limits through year-end 2010 applies to all super conforming mortgages with note dates on or after October 1, 2008, and on or before December 31, 2010. There are no changes to our super conforming mortgage requirements as a result of the extension.

- Operational Impacts

Because the 2010 loan limits are unchanged from 2009, there are no impacts to Loan Prospector or the selling system.

The Single-Family Seller/Servicer Guide (Guide) <http://www.freddiemac.com/sell/guide/> will be updated in an upcoming Guide Bulletin to reflect the extension of our current loan limits through 2010, as well as the eligible note dates for super conforming mortgages.

For More Information

- Review the 2010 base conforming loan limits <http://www.freddiemac.com/sell/selbultn/limit.htm> and the higher loan limits in designated high-cost areas <http://www.freddiemac.com/sell/selbultn/limit.htm> as permitted under ARRA.

- View the 2010 loan limits <http://www.fhfa.gov/Default.aspx?Page=185> in designated high-cost areas as published by FHFA.

- Learn more about our super conforming mortgage requirements <http://www.freddiemac.com/singlefamily/mortgages/super_conforming.html>.

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