Senate Approves Bill To Increase FNMA and Freddie Mac Home Limits

Senate Approves Bill To Increase FNMA and Freddie Mac Home Limits; bill still has to be signed by President Bush

The Senate has just approved the bill to increase the FNMA and Freddie Mac home limits to up to approx. $729,000 in high cost areas according to CNN Money News.  The bill still has to be signed by President Bush but, hopefully, that will come very soon.  It has not been confirmed yet what amount Orange County limits will be raised to but we will keep you posted.

Will this bring out more buyers or is it a band-aid on a bad wound?