Fannie Mae and Freddie Mac’s conforming loan limit increases
To stimulate activity in the housing market, the Mortgage Bankers Association plans to request a permanent increase in Fannie Mae and Freddie Mac’s conforming loan limit to $625,500 from $417,000. Speaking at the MBA meeting on Oct. 20, Garry Cipponeri of Chase Home Finance LLC said liquidity is critical, noting that jumbo loans are hard to come by in pricey markets such as California and New York. Recently, Congress temporarily increased the loan limit to $729,500, where it will stay until the
Original post by California Community Guide - Real Estate in CA - Homes for Sale