Mortgage loan limits in 2023
Conforming loan limits for 2023. Property Type Low Cost Limit High Cost Limit Single Family $726,200 $1,089,300 Two Units $929,950 $1,394,775 Three Units $1,123,900 $1,685,850 Four Units $1,396,800 $2,095,200
Sales of newly built homes tumbled over 16% in April while prices soared
Sales of newly built homes sank to the slowest rate since the start of the Covid pandemic. The median price of a new home sold in April was $450,600, an…
The average mortgage holder has a record $185,000 in equity.
Rising home prices mean today’s mortgage holders also have record levels of equity. With interest rates poised to rise, many homeowners may want to tap those funds. But just because…
Lumber prices on the rise again
Source: National Assn. of HomebuildersLumber prices are climbing once again, adding thousands of dollars to the cost of a new home. Builders and consumers thought relief had arrived when the…