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tommiegun53

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tommiegun53

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Monday, 01/09/2017 1:05:06 PM

Monday, January 09, 2017 1:05:06 PM

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FHA CUTS PREMIUMS ON MORTGAGE INSURANCE, PMI COMPANIES DIP

Marketwatch:

After mortgage-rate spike, FHA to cut insurance premium

By Andrea Riquier
Published: Jan 9, 2017 11:31 am ET
The mortgage agency says it has enough funds to guard against losses

In an increasingly expensive housing market, the FHA insurance premium reduction will save borrowers.
In an increasingly expensive housing market, the FHA insurance premium reduction will save borrowers.
The Federal Housing Administration will reduce the annual premium borrowers pay, in order to expand credit access to more Americans, the government announced Monday.

Borrowers who close on an FHA mortgage after January 27 will pay 25 basis points less for the mortgage insurance premium, the Department of Housing and Urban Development said.
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