Local Mortgage Update – February 2022

Published On: February 24, 2022130 words0.7 min read

Fannie Mae and Freddie Mac recently announced the new, 2022 Conforming loan limits based upon 2021 median sales prices, for single-family homes and condos.

  • Ventura County: $851,000
  • Los Angeles/Orange Counties: $970,800

The new mortgage loan limits are available now although rates have begun to move up in response to Fed tightening. If you’re looking to take cash-out to remodel the kitchen or purchase that vacation home in Maui, now is the time. Rates remain near all-time lows but all signs point North, I believe 30 year fixed rates will be in the 4% range by the end of the year.

For tailored advice and the latest insights specific to your needs, don’t hesitate to contact Summit Mortgage. Summit can help you navigate your mortgage options and find the best fit for your financial future.

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