Fannie And Freddie Raise Conforming LoanLimits
WASHINGTON - (11/30/05) -- In a move that will add liquidity tothe mortgage market, Fannie Mae and Freddie Mac announced Tuesdaythey are raising their single family conforming loan limits by 16%,from the current $359,650, to $417,000. The conforming loan limitis the amount of loan that each company will generally buy fromcredit unions and banks. The two secondary mortgage marketcompanies estimated the increase would put lower cost loans withinreach of as many as 466,000 more buyers. Also effective January 1,the conforming loan limit for larger properties is $533,850 fortwo-unit mortgages; $645,300 for three-unit mortgages; and $801,950for four-unit mortgages.