I just wanted to share this article I read today at www.mortgagechronicle.com:
Starting on Oct. 1, the federal government is reducing the size of mortgages it guarantees in high-priced markets.
The maximum loan amount that Fannie Mae and Freddie Mac will back in high-priced areas is scheduled to drop to $465,750 from $729,750.
HSH Associates estimates that buyers seeking jumbo mortgages will see about a 1/2 percent difference in a rates.
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