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Fall in Oregon Homes

Vantage Mortgage Fall 2021 Newsletter

Fall 2021 Newsletter

FHFA Conforming Loan Limits Increasing (Pending)

The Federal Housing Finance Agency (FHFA) that oversees Fannie Mae and Freddie Mac should be releasing 2022 conforming loan limits around November 2021. 

There has been some speculation that the new limits could increase from $548,250 to around $625,000. So much speculation that many of our investors have now started pricing and locking loans up to $625,000 at these ‘conforming rates’. This is great news for any that can benefit or consolidate, but we released this public service announcement recently to just make sure that people get the correct information. Contact us for any quotes if you believe you may benefit. We expect all-area basic conforming and conforming high-balance loan limit increases to be posted on our site later this year HERE.

Public service announcement: FHFA has ‘not’ yet released 2022 conforming loan limits for Fannie Mae and Freddie Mac. Some Mortgage Loan Originators are confusing the terms ‘conventional’ and ‘conforming’. Conventional are both agency and non-agency loans that fall under this category and ‘conforming’ is conforming with FHFA specifically or Fannie Mae/Freddie Mac guides. Neither ‘conventional’ nor ‘conventional conforming’ loan limits have been increased for 2022 as NA to conventional term always and not yet released for conforming under FHFA. A few lenders have special programs which are great now up to $625k following agency-type guidelines and working to sharper pricing, but please understand it’s an investors program and not a ‘conventional’ loan or ‘conventional conforming’ loan change. 

Residential Real Estate Update

The housing market in the Pacific NW continues to be ‘hot’. While still clearly a seller’s market with buyer’s competing on most transactions, we’re seeing a ‘little’ reprieve on the buyer’s side (compared to earlier in 2021). Certain higher price points and locations we’re also beginning to see some price reductions for the first time in many months.

Oregon Real Estate Market

The typical home value of homes in Oregon is $468,953. This value is seasonally adjusted and only includes the middle price tier of homes. Oregon home values have gone up 20.7% over the past year.

Washington Real Estate Market

The typical home value of homes in Washington is $542,012. This value is seasonally adjusted and only includes the middle price tier of homes. Washington home values have gone up 22.8% over the past year.

The Real Estate Market – Cooling Off?

Depending on the location and price point. Yes and no. Some areas of Portland/Metro and Seattle/Metro are still extremely competitive. Other areas or areas of higher price points we are starting to see some cooling off or even price reductions. Notably, in the outer housing market areas or locations. While everything is of course area-specific, we’re finding through MLS tracking that a number of homes for the first time in quite a while are falling in price. Is this temporary? Is this related to slight increase in rates or the school season starting? Time will tell, but from projections 2022 still is viewed to be good for the housing market. Certainly most experts agree no major bubble or anything some outlets have been speculating on. Read more at PDX Monthly.

Mortgage Rates Still at Historic Lows (but rising)

If you have not already, now is the time to act If you may benefit in lowering your interest rate. Please contact me directly anytime to discuss the market or questions and we greatly appreciate your referrals also to all that you know or hear about refinancing (and buying of course). Remember- lenders are not created equal (especially the lender that services your loan) and Vantage forces competition among the top wholesale lenders in the country to ensure the most favorable loan terms and options… with full rate sheet and recapture presentation.

Is it time to get a quote or refinance?  We can run a quote for you by contacting us (thanks for your patience again) – and comparing our network of wholesale lending partners. If you don’t wish to extend loan term you can choose any fixed term between 8-30 years on conventional loans.

Contact us (targeting those with rates around 1% +/- or so above market):

  • If you have a 30 year fixed conventional rate around 3.875% or higher
  • If you have a 20 year fixed conventional rate around 3.5% or higher
  • If you have a 15 year fixed conventional rate around 3.125% or higher
  • Have an adjustable rate loan
  • If you have a VA or FHA rate at or above 3.0%
  • If you’re trying to remove PMI, or refinance out of FHA to conventional
  • If you’re considering shortening your term
  • If you’re considering cash-out for home improvements or debt consolidation, paying off a second mortgage, etc.

Fun Halloween Facts

Thank you to ALL of our clients, partners, friends, and family for the local support of our business in the NW! We appreciate all of you for the ongoing referrals and trust.


Total Closed Home Loans in the Pacific NW (through September 2021)


Total Dollar amount of closed home loans (through September 2021)

Vantage Mortgage Group, Inc.

NMLS # 35986. Equal Housing Opportunity


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