Housing Mortgages Information

Congress Passes Resolution to Extend Higher GSE Loan Limits through 2010

October 30, 2009 – 8:56 am The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas. The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000. The resolution now goes to President Obama, and he is expected to sign it today or Saturday to avoid a government shutdown....(read more)