There's a little more than four months left in 2010 and some mortgage bankers are getting a bit nervous about next year. I'm not talking about rates and loan volumes. It appears that rates aren't likely to spike any time soon and if employment improves (now let us pray) hopefully home buying will too. No, the big worry is about the Fannie Mae/Freddie Mac loan purchase cap of $729,750. It's assumed that the limit will be re-upped but what if the Republicans gain power this fall? Will they block such an effort in the name of "true capitalism" returning to the housing finance system? Stay tuned...
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