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These risks include, but are not limited to, dependence upon energy industry spending; the volatility of oil and natural gas prices; changes in economic conditions; the potential for contract delays;.
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Because large-scale changes typically take months for the effects to be known, it’s still possible that loan limits will not be reduced in the coming months. If you’re considering refinancing a mortgage or purchasing property, if possible, get qualified with a lender now, even if you don’t plan to purchase right away.
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Mortgage balances, the largest component of household debt, increased again during the third quarter. Mortgage balances shown on consumer credit reports on September 30 stood at $8.74 trillion, an increase of $52 billion from the second quarter of 2017.
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