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High home prices push Fannie Mae and Freddie Mac to back loans of more than $1 million

Por: CNN Business November 29, 2022

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Mortgage giants Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record level for 2023, with the maximum loan limit hitting more than $1 million for high-cost areas, the Federal Housing Finance Agency announced Tuesday. Even as the real estate market has cooled in the face of skyrocketing mortgage rates this year, home prices are still climbing, with prices up 12.21% in the third quarter compared to a year ago,... + full article



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