America is Conforming!

New Federal "conforming" loan limits are now in effect. Prepare for the marketing onslaught. In some areas of the US, the Conforming rate has gone from $417,000 to $729,750. It's supposed to help US homeowners both in Refinance and Purchases by giving slightly easier loan underwriting and improved rates over the "Jumbo" loans (aka Non-conforming). The only Rub right now is that rates are bit too high TODAY for it to really do much good. We need the policy makers to drop the discount rate by 1 full point, then we've got some gas. Here in California, we'll see some good opportunities for many homeowners.
In closing, don't think we're an island here in the US. What we do impacts the world, and what the world does impacts us. It's a global economy, so make sure you're watching out for your own best interests as the blue planet plays financial hopscotch. Position yourself with secure diversified assets and a long term position on your mortgage whenever possible. Your broker: Pat Townsley, 415-485-1776, www.ptre.net