The Economic Stimulus bill passsed with one of the benefits being Fannie Mae Loan Limits being increased to $729,750. It also increases Freddie Mac Loan Limits to $729,750 and it certain high cost areas FHA loan limits are being increased to $729,750.
This should create a fresh round of refinancing by homeowners who currently have jumbo loans from $417,000 to $725,000. They will be able to lower their payments significantly. In addition people waiting on the sidelines to buy a home can now confidently move into the market.
Show Notes: Listen to Can Anyone afford a home in California?
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