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Real Estate/Development

Oct. 4, 2011

Federal loan limit downgrade spurs industry fears

Real estate agents are bracing for a hit as the Federal Housing Agency lowered the mortgage price that it will back by more than $100,000.


By Sean Windle


Daily Journal Staff Writer


LOS ANGELES - Real estate agents are bracing for a hit as the Federal Housing Agency lowered the mortgage price it will back by more than $100,000.


On Saturday, the loan limit was reduced from $729,750 to $625,500, a move expected to bring higher interest rates and larger down payments in California, the nation's largest and most expensive mortgage market.


FHA estimates only a fraction o...

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