Fannie, Freddie loan limits to hold steady in 2014

Reuters

WASHINGTON, Nov 26 (Reuters) - U.S. home price gains in 2013were not substantial enough to warrant an increase in themaximum size of loans that mortgage financiers Fannie Mae and Freddie Mac will purchase in 2014, thefirms' regulator said on Tuesday.

The two taxpayer-owned companies will continue to purchaseloans up to a maximum of $417,000 in most areas, holding at thesame limit as the current year. In more expensive real-estatemarkets, such as Los Angeles and New York, the cap will remainat $625,500, the Federal Housing Finance Agency said.

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