Rocket will treat loans of up to $802,650 as conforming ahead of expected increase. Last year UWM and Rate also got a jump on the official announcement by Fannie and Freddie's regulator
Annual home price appreciation of 5.5% pushes FHA loan limits up to a minimum of $498,257 in affordable markets and to a ceiling of up to $1.72M in high-cost states like Alaska and Hawaii
Surge in Q3 home prices pushes mortgage giants' conforming loan limits in high-cost housing markets to $1,149,825 for single-unit properties, and up to $2,211,600 for 4-unit properties
Following Rocket's lead, UWM and Guaranteed Rate say they'll price mortgages of up to $750K as if they're eligible for purchase by Fannie Mae and Freddie Mac in anticipation of 2024 increases
The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
Rates for mortgages backed by Fannie and Freddie continue to ease despite tough talk on inflation from Fed Chair Jerome Powell, but liquidity issues put pressure on bigger loans
The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants' safety and soundness, not to subsidize fee waivers for buyers of limited means
Fannie Mae economists say downturn won't rival the 2008 financial crisis, but jumbo mortgages and construction loans could get scarce if small and midsized regional banks tighten
The mortgage giants' federal regulator eliminates upfront fees for first-time homebuyers of limited means, but some better-off borrowers will see increases starting May 1
The big run-up in home prices may have cooled, but the 2023 conforming loan limit will be increased by 12% to $726,200 in most parts of the country
With rising mortgage rates drastically curtailing lending, Rocket Mortgage saw third-quarter mortgage originations plummet by 73% from a year ago, to $23.7B
Regulators order mortgage giants to eliminate upfront fees on many purchase loans in order to help first-time homebuyers of limited means, the Federal Housing Finance Agency said Monday
Rocket Mortgage rolls out 'Inflation Buster' mortgage, which provides a lower rate for 1 year, as it battles rival United Wholesale Mortgage for homebuyer market share
Moves by Rocket and United Wholesale Mortgage could help borrowers get better rates and make smaller down payments when taking out loans that were previously classified as jumbo
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight