Congress seals the deal on rebates
Both chambers pass final $170 billion plan aimed at boosting the economy. Next stop: White House. Swift action expected.
By Jeanne Sahadi, CNNMoney.com senior writer
February 7 2008: 10:41 PM EST.
"Housing provisions. The bill calls for the caps on the size of loans that may be purchased by Fannie Mae (FNM) and Freddie Mac (FRE, Fortune 500) to be temporarily raised from the current level of $417,000 to nearly $730,000 in the highest cost housing markets.
It also calls for an increase in the size of loans that would be eligible to be insured by the Federal Housing Administration"
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waiting for president to sign off on. Part of Rebate Bill
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