Bipartisan Agreement Reached to Raise FHA Loan Limits

Oh joy, we're saved! (but please ignore the simultaneous news about FHA almost being bankrupt) -- ``Members of U.S. Congress have reached an agreement on a measure that would increase the maximum size of mortgage loans that can be insured by the Federal Housing Administration (FHA). The measure would only impact FHA's loan limits, restoring the cap for mortgages the government insures to as high as $729,750 in high-cost real estate markets through 2013.''