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The unravelling of FTX founder Sam Bankman-Fried's crypto empire, Boeing's safety exemption, the housing market, and bids to refill the Strategic Petroleum Reserve (SPR) with oil are driving markets.
Amidst higher mortgage rates, which are curbing demand, several surveys showed that U.S. single-family home prices slowed again in September
The increased limit on the size of the mortgages the government-sponsored enterprises will be able to buy reflects the year-over-year change in home prices.
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
The loan limit increase mirrors rising house prices, which went up 12% from September 2021 to September 2022, according to the agency.