Each company has set a loan cap of up to $625,000 for conforming loan pricing, up 14% from the FHFA’s existing $548,250 limit.
The increases come as home prices have been rising at a record-breaking clip.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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Rocket, UWM, PennyMac Lift Jumbo Loan Caps Before FHFA
Rocket/Quicken Mortgage, United Wholesale Mortgage and PennyMac are offering higher-balance loans at conforming loan rates, ahead of an increase in conforming loan limits by the Federal Housing Finance Authority that’s expected in November. So reports MortgageGrader.com.
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