One of the beefs that many mortgage lenders and the National Association of Realtors have had when it comes to “economic stimulus” has been a lack of attention for the conforming loan limit. Now, that is likely to change.
In all the hoopla surrounding last week’s tax rebate announcement, the fact that the new plan allows for a temporary raise to the conforming loan limit was lost. The Seattle Times reports on this conforming loan limit move:
It would raise loan limits temporarily above $700,000 for the quasi-government entities Fannie Mae and Freddie Mac, which fund the bulk of the nation’s mortgages. …read more

Not too long ago (last week), I mentioned that a $500 tax rebate idea for stimulating the economy was getting kicked around. That idea has been modified to a tax rebate in different amounts for different people, and is expected to be one of the points of a Bush economic plan. And it will probably work.
The government wants us to spend more money, and is willing to give it to us to spend (it builds “confidence” in the market, you see). And, as Americans, we usually do spend the money. Less than half of Americans with a significant tax refund …read more