Eric Murrietta

Late Friday, the Federal Housing Financing Agency announced that the conforming loan limit will remain at $417,000 for most areas in 2009 but stated there will be higher limits for high cost states. This conforming loan limit will be the maximum mortgage amount that Fannie Mae and Freddie Mac can purchase in 2009.

Following provisions set by HERA and the FHFA, they have set the "high cost" loan limits for 2009. These limits are not to exceed 115% of the local median house prices and cannot exceed 150% of the standard limit set (this amount is $625,000 for 1-unit homes in the continental U.S.).

There are two links that show the charts for the conforming loan limits in the U.S.

2009 High Cost Area Limits

2009 Loan Limits for All Counties

Stay ready for more news in the weeks ahead.

Happy Halloween:

I wanted something scary and or ghoulish to use as a font for the introduction above and that was literally the best I could come up with...pathetic, I know. (Sometimes I wish I were more creative but that danged analytical side of my brain just won't quit).

I am excited that November is upon us, maybe then I won't work up a sweat walking from my car to the office and vice versa. My goodness, 90 degrees on Halloween is scary in and of itself. Here is the fantastic week in review...

1) The DJIA had a gigantic week as there were some pretty nice gains. At least when I looked at my retirement account the number was going up and not backwards. It kept me from hyperventilating...remember, slow and steady wins the race. If we were built to sprint we would have four legs, not two. Sometimes it is okay to walk as long as you keep stepping forward.

2) Phillies won the World Series: In an attempt to bring excitement back to the Series, Bud Selig (MLB commissioner) decided that he would cancel the remainder of game 5 on Monday and then play the final three innings on Wednesday. Probably the most compelling sporting event on TV in a long time. No fluff, just all excitement.

3) I am Fred Flinstone. Okay, it is news about me, but at least you heard it here. Tonight I will be wearing the orange dress with black triangles and a bright blue tie. It will be an attempt to make the wife happy as she is none other than Wilma (what a great name). I do enjoy dressing up, as last year I was sort of scrooge and didn't dress up. At least I am out of the funk.

Lastly, today is Halloween and as I think back on the funny stories I heard this week, I can't help but to hope that tonight will be full of funny memories as well. I just hope that I don't have 20-somethings coming to my door and saying "Trick or Treat", they will definitely be getting a trick and not a treat. Eventually, you need to pass out the candy, not ask for it.

Think of the stories...

• The Little Engine that Could
• The Tortoise and The Hare

Think of the movies...

• Glory
• The Pursuit of Happyness

What do they have in common? PERSEVERANCE!!!

By definition, perserverance is to persist in anything undertaken; maintain a purpose in spite of difficulty, obstacles, or discouragement; continue steadfastly.

Why is this so important? Well it continues to be a source of my motivation. For my Birthday, my wife, who is a far better gift giver than I am gave me a plaque that says...

"PERSEVERANCE: The greater the obstacle the more glory in overcoming it." Moliere

In it I have found what makes us tackle the hard and difficult parts of life. I found what makes us throw ourselves at our work with reckless abandon so that we can find success. When difficulty arises, we can make the choice to maintain our purpose, to find ways to overcome the hardship, to battle through the perceived weaknesses we see and/or have, or we can choose the opposite.

When we persevere we make a difference in our lives. When we persevere we make a difference in other's lives. When we persevere we make a difference. Those who have quit or failed to face hardship have undoubtedly found themselves wanting, wishing, hoping for another chance. Those who fought for what they knew was right and fought to overcome the trial, found the glory on the other side.

I want to find the glory in overcoming the obtacles, difficulties and challenges we face. Not all have to be bad. We can overcome the challenge of starting a business, working through an exercise program, or accomplishing the goal of meeting new people. We can also overcome when things are down.

Either way, choosing to persevere is the road far less travelled. We cannot point to others for the source of our failure, we can only point to the center of who we are to see if we truly persevered to accomplish that which we set out to do.

Here is some good news for everyone:

I caught this today when perusing my usual financial sites. It is from Dave Fader regarding the 2 YR Swap Spread and LIBOR. Things are beginning to go the right way. Let's up that the credit freeze does begin to thaw so that we can continue to see improvements in the market.

Check the vido at: http://www.cnbc.com//id/15840232?video=896623086&play=1

Here's to positive news all week.

A couple of weeks ago, my former colleague at Silver State Bank, began her very own blog. Though I am jealous, as she seems to be more proficient at it than I am (see: Own domain name, good blog content, fun widgets), I am excited that she is continuing to increase her business through this tool. Her site is at the following link... www.myphoenixlender.com .

If for no other reason then to check it out, go to her blog and say hello. If you want, say that I sent you - I don't get anything for it, just the satisfaction of seeing her become successful.

I hope to someday match her when it comes to my own domain name, etc. but for now, I enjoy active rain and the social interaction it provides.