The Federal Housing Finance Agency’s choice to raise conforming loan limits in 2016 for the first time in a decade is being met with enthusiasm from the mortgage industry, as it should prove to be a positive for future origination volume.
The agency said Wednesday that it would increase the maximum baseline conforming loan limit in 2017 for mortgages purchased by Fannie Mae and Freddie Mac to $424,100 from $417,000, the level set back in 2006.