The Federal Housing Finance Agency has heard the real estate industry’s screams loud and clear and won’t reduce Fannie Mae and Freddie Mac’s $417,000 conforming loan limit until at least next spring, the Wall Street Journal reports.

“Anything we do would have a long lead time and would be gradual and measured,” acting FHFA Director Ed DeMarco said.

Finance and economics blogger Bill McBride figures the national conforming loan limit would be at $360,000 or so if it had been allowed to slide down with home prices during the downturn. Source: calculatedriskblog.com

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