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 March 10, 2008

FHA Raises San Diego Loan Limits
San Diego homeowners can rejoice a little, because the FHA has increased the loan limit in San Diego County to $697,500.
Lenders are excited about the news and have higher expectations than before. Most analysts agree that the subprime loans are the biggest reason why there have been so many forclosures. By raising the loan limit, the FHA are hoping it will be enough for those who borrowed money with an adjustable mortgage rate and are in trouble because their rates were raised just as the value of their home was falling.

Rates throughout the nation will continue to be increased by the FHA. Lobbyist are already trying to make the higher rates permanent in states like California, where the real estate prices are higher than most of the country.

Most experts are very excited about the news and think that by raising the loan limits it will continue to lower interest rates, which in turn will stimulate a sagging housing market.

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