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Higher loan limits, set by the federal government as part of an economic stimulus package early this year, were supposed to make jumbo loans more affordable in expensive housing markets. Rates finally have come down on these so-called “jumbo conforming” mortgages, though these loans likely will remain hard to get for most borrowers.- advertisement -

Jumbo-conforming loans range in size from $417,000 to nearly $730,000 and are especially important in expensive housing markets. A small condominium or modest first home can cost upward of $500,000 in markets such as Los Angeles, San Francisco, Alexandria, Va., New York and other costly locales.

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With gas prices at a record high, fuel costs are draining the wallets of many. Where do you pinch pennies to siphon extra cash into your tank? Are you pulling from your savings or your entertainment budget?- advertisement -

What if you didn’t need to spend any more on gas than you did a year ago, even in the face of these prices?

Through our newsletter, we recently asked Bankrate readers how they were coping with rising gas prices. In their replies, many said they shucked their automobiles — or at least greatly reduced the amount of time they spend behind the wheel.

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