Melissa Cohn, regional vice president at William Raveis Mortgage, told the news service that the increased limits would allow more homebuyers to benefit from mortgages backed by Fannie Mae and Freddie Mac.
But the Housing Policy Council, a trade group, said in a statement, “Ultimately, such backing feeds the run-up in house prices, exacerbating the affordability challenges we face in today’s supply-constrained marketplace.”