The Federal Housing Finance Agency has released its new conforming loan limits for 2024 and, for the first time in several years, Greater Boston is seeing a smaller increase than in past years as the housing market slows.
With the surge in homebuying amid a limited housing supply continuing to drive up sale prices during the pandemic, lenders and borrowers could see opportunities open up next year for larger mortgages.
The maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will increase by 18 percent in 2022, with the limit for two Massachusetts counties approaching $1 million.
For the next 60-odd days, some homebuyers have an unusual opportunity to find financing at a tad lower cost.
More than two-thirds of those surveyed have gotten to know their neighbors better during the pandemic. Almost that many have made an effort to be more friendly than usual.
While homebuyers will be able to keep up with rising Massachusetts home prices, lenders may be able to extend their growing refi business, too.
The maximum conforming loan limit for mortgages to be acquired by Fannie Mae and Freddie Mac will increase by almost 7.5 percent in 2021.
The maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac will increase in 2020.
