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Home prices have surged — and so will the government’s share of mortgages

Getty Images, Bloomberg

A federal regulator has raised the dollar amount of home loans that qualify for backing by Fannie Mae FNMA, +0.00% and Freddie Mac FMCC, +0.00% , the two giant government-sponsored enterprises.

In 2019, the maximum conforming loan limit will be $484,350, the Federal Housing Finance Agency said Tuesday. That’s up 6.9% from the 2018 maximum of $453,100. The change is based on the rate of change in home prices between the third and fourth quarters, as measured by FHFA’s House Price Index.

But in higher-priced areas, loan limits are capped at 150% of the baseline $484,350.

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