UPDATE: HUD suspends FHA mortgage insurance rate cut
FHA’s reduction in premium rates is an appropriate measure to support the path to the American dream
By Jeff Sorg, OnlineEd Blog
(January 13, 2017) – As the nation’s housing market continues to improve, U.S. Housing and Urban Development Secretary Julián Castro announced the Federal Housing Administration (FHA) will reduce the annual premiums most borrowers will pay by a quarter of a percent. FHA’s new premium rates are projected to save new FHA-insured homeowners an average of $500 this year.