Government to raise secured mortgage limit to more than $1 million — a record
https://www.siliconvalley.com/2022/11/29/government-to-raise-secured-mortgage-limit-to-more-than-1-million-a-record/
The federal government has decided to raise the limit on mortgages it secures to just over $1 million, a move that will give Bay Area home buyers a measure of relief from rising interest rates.
Starting next year, Freddie Mac and Fannie Mae will back private loans issued in the Bay Area up to a record $1,089,300 — the current limit is $970,800 — the Federal Housing Finance Agency announced Tuesday.
