Mortgage Loan Limits Increase Again, Making Million Dollar Homes Increasingly Within Reach

By Forbes | Nov 28, 2024 at 08:37 AM EST

The Federal Housing Finance Agency announced an increase in conforming loan limits to $806,500, benefiting borrowers seeking lower-risk loans underwritten by Fannie Mae and Freddie Mac. This change, alongside a slight dip in average mortgage rates to 6.81%, could make million-dollar homes more accessible.

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