CAR - "'New' loan limits fail to improve homeownership opportunities for Californians" (11-28-06)

"The cost of financing a home will remain prohibitive for many households in California in the wake of the Office of Federal Housing Enterprise Oversight (OFHEO) conforming loan limits for 2007, announced earlier today. The maximum 2007 conforming loan limit for single-family mortgages will remain at $417,000, unchanged from the 2006 level established last year. The conforming loan limit determines the maximum size of a mortgage that Fannie Mae and Freddie Mac can buy or guarantee."