Fannie Mae, Freddie Mac Raise Mortage Limits

"Fannie Mae and Freddie Mac have raised the limit on the size of single-family home mortgages they buy from banks by 9.3 percent, to $300,700, opening up lower-cost financing to more people.The new ceiling, up from $275,000, is in line with the increase in the average house price for the 12 months ended in October, as measured by the Federal Housing Finance Board."

Thanks to Abhijeet Chavan