High home prices push Fannie Mae and Freddie Mac to back loans of more than $1 million

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High home prices push Fannie Mae and Freddie Mac to back loans of more than $1 million Mortgage giants Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record level for 2023, with the maximum loan limit hitting more than $1 million for high-cost areas, the Federal Housing Finance Agency announced Tuesday.
 
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