Rise in appraisal threshold a positive, but a small one

A hike in the threshold at which mortgages require a home appraisal, from $250,000 to $400,000, is long overdue and has the potential to reduce closing times, raise closing rates and boost house prices. However, with mortgages sold to or guaranteed by the GSEs or government agencies exempt, the number of mortgages impacted by the change will be small. That will limit the positive impact of the change.