The Federal Reserve announced on Wednesday that starting January it will begin scaling back its bond purchase program from $85 billion per month to $75 billion per month.
2012’s Biggert-Waters Flood Insurance Reform Act, if not modified, will continue to affect owners of older homes who have subsidized flood insurance. A 25% increase in insurance is a large amount to assimilate all at once and makes it more difficult to sell those properties if a mortgage is involved.
New FHA loan limits take place January 1, 2014. For high cost areas, the new national loan ceiling limit will decrease from $729,750 to $625,500.