Conforming Loan Limit Will Rise in 2023
The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2023 will rise to $726,200, an increase of $79,000 from $647,200 in 2022.
The conforming loan limits are required by the Housing and Economic Recovery Act (HERA) to reflect the percentage change in the average U.S. home price during the most recent 12-month or four-quarter period ending before the time of determining the annual adjustment. In 2023, the conforming loan limit will rise 12.21% because FHFA has determined that the average U.S. home value increased by that amount between the third quarters of 2021 and 2022.
Higher loan limits will be in effect in higher-cost areas as well. The new ceiling loan limit in high-cost markets will be $1,089,300, which is 150% of $726,200. The previous ceiling was $970,800.
In its news release, FHFA said that due to rising home values, the ceiling loan limits will be higher in all but two U.S. counties or county equivalents in 2023.
A list of the 2023 maximum conforming loan limits for all counties and county-equivalent areas in the country may be found here.
Latest from NAHBNow
Labor
May 13, 2025
What Are the Highest Paying Jobs in Construction?Half of payroll workers in construction earn more than $60,320, compared to the U.S. median annual pay of $49,500, and the top 25% make at least $81,510, according to the latest May 2024 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by NAHB. See which occupations in the construction are the highest earning.
Material Costs
May 12, 2025
Statement from NAHB Chairman Buddy Hughes on U.S.-China Tariff AgreementBuddy Hughes, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Lexington, N.C., issued a statement after the U.S. and China announced a 90-day pause on most of the tariffs each nation has imposed on one another.
Latest Economic News
Economics
May 13, 2025
Inflation Eased Again in AprilInflation slowed to a 4-year low in April while shelter inflation remained elevated. Despite the easing, inflation may pick up in the coming months as possible inflationary pressure from enacted tariffs and other policy uncertainties continues to threaten economic growth and complicate the Fed’s path to its 2% target.
Economics
May 13, 2025
Residential Mortgages Experience Weaker Demand in First QuarterOverall demand for residential mortgages was weaker while lending standards for most types of residential mortgages were essentially unchanged according to the Federal Reserve Board’s April 2025 Senior Loan Officer Opinion Survey (SLOOS).
Economics
May 13, 2025
Highest Paid Occupations in Construction in 2024Half of payroll workers in construction earn more than $60,320 and the top 25% make at least $81,510, according to the latest May 2024 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median annual pay is $49,500, while the top quartile (the highest paid 25%) makes at least $78,810.