BAP Blog Senate votes to extend loan limits

Some encouraging news form late last week, the Senate passed an amendment to an appropriation bill that would reinstate the conforming loan limits to $729,750 through December 2013. The Senate and House now are working out the differences between the Senate and the House bill, which the House passed earlier this year. C.A.R. also is working with the California Congressional Delegation to ensure this provision is included in the final bill. NAR worked tirelessly to keep this issue alive and collaborated with senators to explain the negative impact the lower loan limits are having on the market. California Sen. Dianne Feinstein played an instrumental role in ensuring the loan limit amendment was included in the bill. Lets hope the congress comes together to support this important issue and gets it passed.