On November 29, the FHFA announced that the maximum conforming loan limits in 2013 for mortgages acquired by Fannie Mae and Freddie Mac will remain unchanged from the current levels. The FHFA announcement includes the full list of county-level loan limits, which are $417,000 across most of the country for one-unit properties. Under the Housing and Economic Recovery Act (HERA), the FHFA is required to adjust the baseline loan limit each year to reflect changes in the national average home price. However, HERA also requires that, following a period of declining home prices, prior price declines be fully offset before a loan limit increase can occur. The FHFA determined that despite evidence of price increases over the past year, those increases have not been sufficient to offset prior price declines and, therefore, the baseline could not be adjusted.