FHA Reduces Mortgage Insurance Premiums!

FHA is reducing annual FHA mortgage insurance premiums by 0.5 percentage point from 1.35 percent to 0.85 percent, an average savings of $900 annually for new borrowers.
Lowered premiums will help more than 800,000 homeowners save on their monthly mortgage costs and enable up to 250,000 new home buyers to purchase a home.
These steps will help support home sales, lower housing expenses for affected households, and help bring more balance to the housing market.