BiggerPockets Daily Big News at the FHA and the Latest Data on Rent Prices
Mar 27, 2025
The new leader at the Federal Housing Finance Agency confirms no changes to conforming loan limits, impacting mortgages significantly. Discover why these limits matter in the larger context of government involvement in housing. Additionally, Zillow's rental report reveals rents are on the rise again, with multifamily units now taking the lead over single-family homes. With affordability concerns growing, the rental market might facing tighter conditions soon. Tune in for insights on these crucial housing dynamics!
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Conforming Loan Limit Remains
- The new FHA director, Bill Pulte, stated there are no plans to lower the conforming loan limit of $806,500.
- This is important because many feared the limit would be lowered due to the new administration's goal of shrinking the government's role in housing.
Debate Over Conforming Loan Limit
- The conforming loan limit is approaching $1 million, which raises questions about government backing for high-priced loans.
- Some argue this is necessary to remove risk from the market, while others question why the government should back such large loans.
Rent Prices Climb, Multifamily Outpaces Single-Family
- U.S. asking rents climbed to $1,980 in February, up 0.4% monthly and 3.5% annually.
- Single-family rent growth has fallen behind multifamily for the first time since June 2024, possibly due to increased single-family rental supply.