Conforming Loan Limit Raise Could Increase the Pool of Mortgage Borrowers

The Federal Housing Finance Agency raised the maximum conforming loan limits for most U.S. counties on mortgages acquired by Fannie Mae and Freddie Mac. The first increase in the baseline rate since 2006 would raise the size of home loans that government-sponsored enterprises were allowed to acquire in 2017 to $424,100 from $417,000 for most U.S. counties. The move could give more borrowers access to more flexible terms for government-backed loans, according to Zillow.

To Read More