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Senate Approves Stimulus Package with Loan Limit Increase

February 8th, 2008 by Dollar$ & Sense

Great forum! Thanks. Here is some news that might uplift those home buyers out there in the high priced California real estate market. The United States Senate voted today to approve a multi-billion-dollar economic stimulus bill which includes a CBIA-supported increase in the federal conforming loan limit. The loan limit increase means that federally guaranteed loans, which carry lower financing costs for homebuyers, will rise to $730,000 in California’s high-cost housing markets providing needed mortgage capital and, hopefully, much-needed stimulus to dormant home sales. The stimulus package, approved by a vote of 81 to 16, must go back to the House of Representatives for a vote - expected to be a formality - before its expected arrival on the President’s desk next week. More on this important development in next week’s Monday Morning Report. Thanks to all CBIA members who weighed in on the bill over the past several weeks.So what does this mean to the average home buyer? Lower interest rates on those high priced homes in California and other markets!

Here is the link to the entire article:

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This entry was posted on Friday, February 8th, 2008 at 4:09 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 response about “Senate Approves Stimulus Package with Loan Limit Increase”

  1. shahin said:

    Great article Prabakar! It will be wonderful to get the economy moving again, especially the home sales that have been in a slump.

    Shahin Enayati
    Investors Choice Realty

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