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Tagged : Boston homebuyers

Found 2 blog entries tagged as "Boston homebuyers".

The recent news of the Federal Reserve increasing interest rates by 0.25 percentage points marks the tenth consecutive hike. While this decision aims to reduce liquidity in financial markets and control high inflation, how could it impact the Boston real estate market? This blog post will explore the potential consequences of rising interest rates on the Boston real estate market.

Mortgage rates and home affordability:  Although the federal funds rate doesn't directly impact mortgage rates, they typically move in the same direction. Higher interest rates often lead to higher mortgage rates, affecting home affordability. As mortgage rates rise, potential homebuyers in Boston may find it more challenging to afford homes due to increased financing costs

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Boston Loan Limits Increasing

Earlier this month, the Federal Housing Finance Agency said that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac will increase by 12% nationally in 2023. This is excellent news for homebuyers in Greater Boston, as the loan limit for one-unit properties in Essex, Middlesex, Norfolk, Plymouth, and Suffolk counties will increase by more than $100,000 to a limit of $828,000.

This increase is in line with the Housing and Economic Recovery Act (HERA), which requires the Federal Housing Finance Agency (FHFA) to adjust the conforming loan limit annually to reflect the change in the average U.S. home price. According to the FHFA's seasonally adjusted data, house prices increased 12.21% between the third quarters of

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