It's only been 10 days, but lenders in the primary market are starting to feel the effects of lower GSE loan limits. Ilan Awerbach, a vice president at UniTrust Mortgage of San Diego tells us that the "lower loan limits are definitely being felt here in California -- as I imagine they are on both coasts." Awerbach says that although the Federal Reserve believes the percentage of borrowers affected is very low "that isn't true in San Diego." He notes that the Fed's calculations are based on jumbos closed thus far and "not the total number that is out there, perhaps waiting for the lower rates we now have"…
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