Senate passes to make permanent higher loan limits

this was forwarded to me by Bay East as well.

sounds like the house and senate have both agreed to make permanent the new higher loan limits. this will be great news. Hopefully it's signed into law soon.

Senate Acts on Mortgage Market Changes: On Tuesday (5/20) the Senate Banking Committee voted to pass the Federal Housing Finance Regulatory Reform Act of 2008. This bill includes changes to Fannie Mae, Freddie Mac and FHA including a permanent increase in the conforming loan limit. Earlier this month the House of Representatives passed their version of the bill. The Senate bill also includes a refinancing program that assists homeowners dealing with foreclosures.