Author Topic: 2022 Agency loan limits now confirmed  (Read 1347 times)

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Offline Soylent Green Is People

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2022 Agency loan limits now confirmed
« on: November 30, 2021, 10:03:35 AM »
National Standard Conforming Limits

1 unit   $647,200
2 units  $828,700
3 units  $1,001,650
4 units  $1,244,850

Los Angeles / Orange County High Balance Loan Limits

1 unit   $970,800
2 units  $1,243,050
3 units  $1,502.475
4 units  $1,867,275

San Diego County High Balance Loan Limits

1 unit   $879,750
2 units  $1,126,250
3 units  $1,361,350
4 units  $1,691,850

Riverside/San Bernardino Counties - Standard Conforming limits only. No High Balance available

Ventura County - High Balance Loan Limits

1 unit   $851,000
2 units  $1,089,450
3 units $1,316,900
4 units $1,636,550

More info if needed here: https://singlefamily.fanniemae.com/originating-underwriting/loan-limits

« Last Edit: November 30, 2021, 10:32:03 AM by Soylent Green Is People »
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Offline Liar Loan

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Re: 2022 Agency loan limits now confirmed
« Reply #1 on: November 30, 2021, 10:21:47 AM »
The national limits have exceeded OC's "high balance" limit from just four years ago.

Offline USCTrojanCPA

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Re: 2022 Agency loan limits now confirmed
« Reply #2 on: November 30, 2021, 11:17:54 AM »
That's a big bump but then again prices have run up a lot this year.
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Offline Cares

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Re: 2022 Agency loan limits now confirmed
« Reply #3 on: November 30, 2021, 12:21:12 PM »
It's a nice little surprise bump from the previously rumored $625k and $937.5k...

Also this is the single highest increase in history for FHFA limits. Take a look at some recent eyars

2022   647,200   18.05%
2021   548,250   7.42%
2020   510,400   5.38%
2019   484,350   6.90%
2018   453,100   6.84%
2017   424,100   1.70%
2016   417,000    0.00%
2015   417,000   0.00%
2014   417,000   0.00%
2013   417,000   0.00%
2012   417,000   0.00%
2011   417,000   0.00%
2010   417,000   0.00%
2009   417,000   0.00%
2008   417,000   0.00%
2007   417,000   0.00%
2006   417,000   15.95%
« Last Edit: November 30, 2021, 12:32:30 PM by Cares »

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Offline Liar Loan

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Re: 2022 Agency loan limits now confirmed
« Reply #4 on: November 30, 2021, 12:59:10 PM »
The previous record increase in 2006 was followed by 10 years of 0% increases.  I'm sure this time is different though.

tic, tic, tic... BOOM

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Offline AccidentalAnalytics

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Re: 2022 Agency loan limits now confirmed
« Reply #5 on: December 01, 2021, 07:45:21 AM »
The previous record increase in 2006 was followed by 10 years of 0% increases.  I'm sure this time is different though.

tic, tic, tic... BOOM

Yes, we are all worried that prices will drop down to 2020 levels.  I expect the same prediction in Dec 2022 after 5-7% appreciation.

Offline Liar Loan

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Re: 2022 Agency loan limits now confirmed
« Reply #6 on: December 01, 2021, 09:06:14 AM »
The previous record increase in 2006 was followed by 10 years of 0% increases.  I'm sure this time is different though.

tic, tic, tic... BOOM

Yes, we are all worried that prices will drop down to 2020 levels.  I expect the same prediction in Dec 2022 after 5-7% appreciation.

Spoken like a realtor, circa 2006.

Offline zubs

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Re: 2022 Agency loan limits now confirmed
« Reply #7 on: December 01, 2021, 09:20:29 AM »
Notice the FED balance sheet?
The correlation with housing prices is almost @1





With so much money in the world today....how will prices drop?

Offline USCTrojanCPA

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Re: 2022 Agency loan limits now confirmed
« Reply #8 on: December 01, 2021, 09:51:58 AM »
The previous record increase in 2006 was followed by 10 years of 0% increases.  I'm sure this time is different though.

tic, tic, tic... BOOM

Yes, we are all worried that prices will drop down to 2020 levels.  I expect the same prediction in Dec 2022 after 5-7% appreciation.

Spoken like a realtor, circa 2006.

Liar, it ain't gonna happen...we are in a different world with different underlying circumstances.  Loans have been fully underwritten for 10+ years now and buyer strength is much higher than 15 years ago.  Also, buyers are buying to live in the homes versus buying 3-5 homes and speculating like they did back in the bubble days.  I read an article where it talked about that one of the reasons why we have seen increasing housing prices is that lack of enough new construction because builders pulled way back after the great recession.  No big drop is coming Liar unless we get some kind of huge shock in the market.  As you know, I track inventory levels like a hawk and use that as my tea leaf prediction in saying that prices will continue to move up in the near term.
Martin Mania, CPA
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Offline OCtoSV

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Re: 2022 Agency loan limits now confirmed
« Reply #9 on: December 01, 2021, 11:56:17 AM »
Martin - one key factor is jobs; many professional jobs will evaporate in a rising rate environment, and many purchases rely on 2 incomes. The Fed is not the BOJ and they will be forced to raise rates sooner rather than later given the natural inflation hitting us from the supply chains needing to exit China, the cheapest and best factories in the world BY FAR. A Volcker moment  is coming and it will have ramifications for equities and real estate.

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Offline zubs

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Re: 2022 Agency loan limits now confirmed
« Reply #10 on: December 01, 2021, 12:03:32 PM »
Will Jerome crash the economy by tapering too hard to tame inflation?
He is hoping inflation will drop if we can get our supply chain sorted.

Currently our supply chain is worse today 12/01/2021 than 2 months ago.
Ocean shipping is even more expensive now.

I may have to increase my prices by 10% again due to ocean freight and Long Beach facilitating payments.

Offline Cares

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Re: 2022 Agency loan limits now confirmed
« Reply #11 on: December 01, 2021, 12:10:08 PM »
Martin - one key factor is jobs; many professional jobs will evaporate in a rising rate environment, and many purchases rely on 2 incomes. The Fed is not the BOJ and they will be forced to raise rates sooner rather than later given the natural inflation hitting us from the supply chains needing to exit China, the cheapest and best factories in the world BY FAR. A Volcker moment  is coming and it will have ramifications for equities and real estate.

I'm not following why rising rates will make professional jobs disappear. Are you suggesting because the cost of capital is increasing that companies will begin laying off people?

Offline CalBears96

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Re: 2022 Agency loan limits now confirmed
« Reply #12 on: December 01, 2021, 12:15:29 PM »
Martin - one key factor is jobs; many professional jobs will evaporate in a rising rate environment, and many purchases rely on 2 incomes. The Fed is not the BOJ and they will be forced to raise rates sooner rather than later given the natural inflation hitting us from the supply chains needing to exit China, the cheapest and best factories in the world BY FAR. A Volcker moment  is coming and it will have ramifications for equities and real estate.

I'm not following why rising rates will make professional jobs disappear. Are you suggesting because the cost of capital is increasing that companies will begin laying off people?

Yeah, saying professional jobs disappearing due to rising rate doesn't make much sense. High tech companies are desperate in hiring right now. My group had been interviewing candidates and we're getting pretty desperate due to losing those candidates to Apple and Google.

Offline Cares

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Re: 2022 Agency loan limits now confirmed
« Reply #13 on: December 01, 2021, 12:39:37 PM »
Also just historically, from FRED data since 1948, as interest rates go up, unemployment goes down.

Offline Liar Loan

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Re: 2022 Agency loan limits now confirmed
« Reply #14 on: December 01, 2021, 12:52:12 PM »
The previous record increase in 2006 was followed by 10 years of 0% increases.  I'm sure this time is different though.

tic, tic, tic... BOOM

Yes, we are all worried that prices will drop down to 2020 levels.  I expect the same prediction in Dec 2022 after 5-7% appreciation.

Spoken like a realtor, circa 2006.

Liar, it ain't gonna happen...we are in a different world with different underlying circumstances.  Loans have been fully underwritten for 10+ years now and buyer strength is much higher than 15 years ago.  Also, buyers are buying to live in the homes versus buying 3-5 homes and speculating like they did back in the bubble days.  I read an article where it talked about that one of the reasons why we have seen increasing housing prices is that lack of enough new construction because builders pulled way back after the great recession.  No big drop is coming Liar unless we get some kind of huge shock in the market.  As you know, I track inventory levels like a hawk and use that as my tea leaf prediction in saying that prices will continue to move up in the near term.

Irvine flattened and went slightly negative for three years due to the very minor increase in rates that occurred in late-2017.  Rates would now have to increase a full point from current levels just to reach 2017's low point.  I would hate to see what happens to Irvine if Powell has to do some serious inflation fighting.

A Volcker moment  is coming and it will have ramifications for equities and real estate.

Your are correct, but really, ALL asset classes are severely over priced based on the negative real rates that occurred in response to covid.  People are speculating like never before on anything and everything.  Last time it was limited to housing.  The time before it was limited to NASDAQ stocks.  This time people are speculating on pieces of code (crypto & NFT's), collectibles that were once laughable like Beanie Babies and mass-produced baseball cards, IPO's with not only no earnings but no sales to speak of... The list goes on.

Martin - one key factor is jobs; many professional jobs will evaporate in a rising rate environment, and many purchases rely on 2 incomes. The Fed is not the BOJ and they will be forced to raise rates sooner rather than later given the natural inflation hitting us from the supply chains needing to exit China, the cheapest and best factories in the world BY FAR. A Volcker moment  is coming and it will have ramifications for equities and real estate.

I'm not following why rising rates will make professional jobs disappear. Are you suggesting because the cost of capital is increasing that companies will begin laying off people?

Yeah, saying professional jobs disappearing due to rising rate doesn't make much sense. High tech companies are desperate in hiring right now. My group had been interviewing candidates and we're getting pretty desperate due to losing those candidates to Apple and Google.

The tech industry as we know it has never had to face a rising rate environment.  It's easy to raise capital for high risk ventures when money is cheap and getting cheaper all the time.  Looking back at the 1980's recession, capital-intensive industrial giants were hit very hard.  This time industrials are a less important part of the economy and tech is much more important.  As investors regain the ability to earn a reasonable return on less risky assets, a lot of capital is going to flee the tech sector and move back towards bread-and-butter historically safe investments.  The large well-established tech firms should do alright, but a lot of poorly run startups are going to get wiped out.
« Last Edit: December 01, 2021, 12:57:14 PM by Liar Loan »

 

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