UPDATE1: Congress approved keeping the jumbo conforming loan limit at $729,750 through 2010. We still think it was unnecessary.

The “resolution” is headed for the president’s desk where he is expected to sign it either today or tomorrow.

Despite our opinion that the combination of falling home prices and the narrow market which can take advantage of the higher loan amount made the extension unnecessary, the National Association of Realtors maintains their stance: Read the rest of this entry »