The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

2023 Confirming Loan Limit Rise

2023 Confirming Loan Limit Rise

By Scott Sheldon / September 25, 2022

The federal housing finance agency recently released its 2023 conforming loan limit. The new loan limit for 2023 is $715,000. Here is what this means if you’re purchasing or refinancing a home… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac releases its annual loan limit. The annual loan limit…

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Why you can expect your home equity line of credit to cost more

Why you can expect your home equity line of credit to cost more

By Scott Sheldon / July 24, 2022

Fed funds recently increased the rate by 75 basis points. This change to monetary policy also means your home equity line of credit costs more. The following is what you must know about a home equity line of credit… Home equity lines of credit are tied to the prime rate which is the Fed funds…

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how a recession could impact your home buying

What the Federal Reserve rate increase means

By Scott Sheldon / April 24, 2022

The Federal Reserve increased the Fed funds rate by 25 points to slow down the highest inflation seen in 30 years. As a result, here’s what this means for interest rates, credit cards, and home equity lines of credit.   In short, everything is going up. Mortgage rates are also higher but not because of…

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