U.S. CONGRESS EXTENDS HIGHER MORTGAGE LOAN LIMIT

The U.S. House of Representatives early today approved legislation to extend by one year increased loan limits on mortgages backed by the government, sending the bill to President Obama to sign into law, Reuters reported. The House voted 228-194 to approve a stopgap spending bill to keep the government running through mid-December. The bill, approved by the Senate earlier on Wednesday, contained language to keep the $729,750 limit for loans backed by Fannie Mae, Freddie Mac and the Federal Housing Administration through September of next year.