Bubble Wrap
Entry
Better rates for bigger mortgages in North Jersey
According the The Bergen Record rates on Jumbo loans have seen a small decrease as a result of the new government package allowing Fannie Mae and Freddie Mac to purchase or guarantee loans of up to $729,750, but it is largely seen as not enough.
“I am disappointed,” Frank said in a speech to the Mortgage Bankers Association in early May. “We fought very hard to raise the loan limits for Fannie and Freddie, and there have been a lot of problems in implementation.”
This lifting of the cap on jumbo loans is temporary: It’s set to expire at the end of 2008, but Congress is considering making it permanent.
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posted about 18 months ago
