"C.A.R. applauds the FHFA for keeping with the law and retaining the existing Fannie Mae and Freddie Mac conforming loan limits," said CAR President Kevin Brown.
"The FHFA recognizes that home prices have rebounded in California, especially in the high-cost areas, where lowering the loan limits would have reversed the housing recovery," Brown explained. "Retaining the higher loan limits is critical to providing liquidity in today's housing market and is essential to a full housing recovery."
Earlier this year, the FHFA announced its intention of lowering the loan limits. Since then, CAR and the National Association of Realtors aggressively fought to prevent a reduction in the loan limits.
Both organizations have long advocated for making higher conforming loan limits permanent. As a result of those efforts, Congress has now made permanent the maximum conforming loan limits at $625,500.
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