If you are looking for a new home and you need a loan and your price range is $625,500 to $729,750; better find a place before October 1.
Why? As an emergency measure three years ago, Congress raised the cap to as high as $729,750 the maximum loan amount that Fannie Mae, Freddie Mac and federal agencies could guarantee. (please check you state as loans caps differ state to state, city to city). Some top-tier markets are New York, L.A. and Washington DC.
Read more about the new caps at: http://online.wsj.com/article/SB10001424052702303763404576420101788878440.html
Green Real Estate Appraiser 