FHFA raises single-family home loan limits by 5.2%, setting new max at $806,500 for 2024.

The Federal Housing Finance Agency (FHFA) announced a 5.2% increase in government-guaranteed loan limits for single-family homes, raising the maximum to $806,500 starting next year. This reflects rising U.S. home prices, with Fannie Mae and Freddie Mac implementing the new limit. Higher limits will apply in areas with significantly higher home values, like Alaska, Hawaii, and certain counties. Despite high mortgage rates and a slowdown in sales, housing prices continue to climb due to limited inventory.

November 30, 2024
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