The top dollar amount for a standard, or conforming, mortgage that can be purchased by quasi-federal agencies such as Fannie Mae or Freddie Mac, versus a “jumbo” mortgage, will increase from $417,000 to $730,000.
Lemme see, we’d be talking primarily about Florida and California here — high-dollar states with a once-booming housing market until their bubbles burst.
Lemme see No. 2… this is an election year, right?
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