Conforming Jumbo is Mumbo Jumbo
Remember the hoopla a few months ago? Fannie Mae and Freddie Mac were going to up the maximum mortgage from $417,000! Sound great. Right? WRONG!!!!<br /><br />Now we come to find out that not only are the limit raises by areas, not universal throughout the country, but the rate jump for a CJ is about 1.125% in RATE….not points.<br /><br />How is that supposed to help the economy. <br /><br />Shame on you Fannie and Freddie. It would have helped people out from coast-to-coast if you came with real rates.