2022 Conforming Limits Rise 18 Percent To $647,200

 

 

2022 Conforming Limits Rise 18 Percent to $647,200

 

The new conforming loans limits for mortgages that can be acquired by Fannie Mae and Freddie Mac were announced this morning by the Federal Housing Finance Agency (FHFA). As expected, the changes reflect the nearly unprecedented price gains over the last year. Between the third quarter of 2020 and 2021 the expanded-data index  had grown by an average of 18.05 percent. The limit for single-family residential units in most U.S. counties, effective January 1, 2022, will be $647,200. This is an increase of $98,950 from the $548,250 limit this year. FHFA says that due to rising home values, conforming limits will increase in all but four U.S. counties or county equivalents.