President to Announce FHA Insurance Cuts

Tomorrow (January 8th, 2015), President Obama is expected to announce a 0.5 percent reduction of the Federal Housing Administration’s mortgage insurance premiums. This lowers premiums from 1.35 percent of the loan balance to 0.85 percent, opening up room for more homebuyers to take advantage of the program. According to Bloomburg: “Under the new premium structure, FHA... View Article