Fannie Mae and Freddie Mac are raising the maximum limit on home loans to over $1 million in certain markets where buyers struggle to get financing. This reflects the reality of high home prices in challenging real estate markets, leaving many unable to afford a home. The conforming loan limits have been increased to give buyers a better chance of securing financing. The new limits highlight the fact that a $1 million home is no longer considered a luxury. The rise in real estate prices has made it difficult for average buyers to enter the market.
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