Obama Cuts Mortgage Insurance Rates

Obama Cuts Mortgage Insurance Rates

In a move that is intended to help nudge the housing recovery along, the Obama Administration lowers FHA mortgage insurance rates from .85% to .5%. The White House anticipates that this will save impacted homeowners approximately $900 per year. While this reduction is not anticipated to have a wide-ranging effect on the overall housing market, it should help spur more home ownership opportunities for first-time buyers.

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Steve Devorak
Steve Devorak 152 posts

Steve Devorak is a former Director of Land Acquisition and Project Manager with extensive experience in the Southern California land market.

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