GSE Loan Limits Unchanged for 2013; FHFA Defers Plan to Plot New Formula
December 6, 2012
The state of emergency in the U.S. mortgage market lives on for another year, as the Federal Housing Finance Agency announced that conforming loan limits will remain as they are for 2013. The agency didnt have much say in the matter, since Congress in late 2011 extended the emergency loan limits for Fannie Mae, Freddie Mac and the FHA through the end of 2013. Lawmakers did lower the top Fannie/Freddie loan in high-cost markets of the lower 48 states to $625,500, while the top-end FHA loan is still $729,750. Although the FHA has not yet announced...