4 ms·
Hmm, this would be pretty easy to test I'd think. You should see a definite knee in US property prices around $612k ($510k conforming loan maximum + 20% standa
by amalcon 5y ago
Hmm, this would be pretty easy to test I'd think. You should see a definite knee in US property prices around $612k ($510k conforming loan maximum + 20% standard down payment). Above that price, loans will be harder to obtain and command higher interest rates.
Does anyone have a good source of this kind of data?
- majormajor 5y agoThe conforming loan max is different in different areas, so you'd have to look at this very regionally. 20% is hardly universal too. When I looked, non-conforming loans had slightly higher rates, but in a sub-3% world... it wasn't a huge difference. Sometimes down payment affected the rate, sometimes it didn't. Lenders seemed to have a lot of knobs to tweak on the backend to make it work if they wanted to make the loan for clients who were shopping around.