REAL ESTATE

VA Suspends Mortgage-Rate Ceiling: The Department of Veterans Affairs said it would no longer limit interest rates under its popular VA loan program and will instead allow veterans to negotiate their own rates. In the past, the VA has always set a ceiling on the rates of the loans it would guarantee. But the ceiling has traditionally been about one-half of 1% lower than rates on conventional mortgages, so many lenders demanded an unusual number of “points,” or upfront cash, before it would make the loan. The new program also allows a veteran to split the points with a seller or take a higher mortgage rate and pay fewer points.