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The “Today By The Bay” Blog

FHA to Cut Mortgage Insurance Premiums AGAIN!

According to the American Banking Journal the Feds are going to cut mortgage insurance premiums again saving the average FHA borrower an average of $500 per year!  Read the full article here : ABA Journal.  Hopefully this will continue to increase our expectations for the 2017 market!  This change takes effect on loans closed after January 27th 2017 and the expect to save 25 basis points on the insurance premium. This Market Watch article really explains FHA loans and why the FHA is passing along these savings.  They are expecting $1M home buyers to purchase using FHA backed loans this year.  I can say the majority of closings I see here in the office are FHA backed loans.  Here’s to another interesting year!  I ❤️ Real Estate.

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