US Congress Approves Higher Loan Limits Extension

WASHINGTON, DC-The US Congress voted in favor of extending the higher loan limits for government-financed mortgages, which will help keep interest rates extremely low.

By GlobeSt News Hub | September 30, 2010 at 01:01 AM

WASHINGTON, DC-The US Congress voted in favor of extending the higher loan limits for government-financed mortgages, which will help keep interest rates extremely low.

The higher $729,750 cap for single-family home loans in high-cost areas will not be removed until October 2011. The cap is expected to reduce to $625,000 in the beginning of 2011. For the full story, go to Reuters.

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