Conforming Loan Limits Stay The Same

The Office of Federal Housing Enterprise Oversight (OFHEO) recently announced that the conforming loan limit for single-family mortgages purchased by Fannie Mae and Freddie Mac in 200 would remain at the 2007 level of $417,000. What does this mean? For most of the U.S., if a mortgage is for more than $417k, it is considered a jumbo mortgage and the interest rate may be higher than on a conforming Fannie Mae mortgage.