National Association of Realtors® Calculates Impact of Increasing FHA Loan Limits
Increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home, according to NAR research.
An economic impact study conducted by NAR earlier this month estimated that increasing the conforming loan limits for Fannie Mae and Freddie Mac would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000.
Additionally, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by 2 to 3 percentage points.
-- “NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market,” Realtor.org, Feb. 8, 2008.
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