Real estate ended 2011 with a whiplash-worthy financing reversal and headed into 2012 with more questions than answers about mortgage backers and interest rates. Temporary limits on the size of mortgages backed by Fannie Mae, Freddie Mac and Federal Housing Administration expired on Oct. 1, reverting to a maximum of $417,000 in most of the country and $625,500 in high-cost locales including the Washington metro area. Just weeks later Congress returned the FHA limits to the old schedule, with a top loan limit of $729,750 but left Fannie and Freddie limits untouched.

Most loans nationwide are under $417,000 and national studies anticipated little effect from the rollback. But Koki Adasi, associate broker at Koki & Associates Inc., in Silver Spring, said when the changes first took effect “we noticed the difference immediately; there were far fewer inquiries coming in on-line where most first-time buyers start.”