With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement.
Category: conforming loan limit
More lenders raise their conforming loan limit to $750K
Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases.
Jumbo mortgage rates rise as lenders pull back
Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell’s tough talk on inflation, but liquidity issues put pressure on bigger loans.