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Good News- Financing
The mortgage rates are incredible- 5 to 5.65% for fixed rate loans; and around 6% for jumbo money. We are also watching for a possible increase in the conforming loan amount. Currently, loans up to $417,000 qualify for the best interest rates. Loans above $417,000 are classified as “jumbo loans” and are charged a higher interest rate. The conforming level is expected to be increased to $729,000- good news for buyers and borrowers in this range.
I will keep you posted!