FHA Premium Dropping to 0.85%

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From DS News

 

Report: President to Announce Reduction in FHA Premiums

President Barack Obama will announce this week a reduction to Federal Housing Administration (FHA) mortgage insurance premiums, according to media reports.

Bloomberg reported Wednesday that FHA will cut its mortgage insurance premiums to 0.85 percent, a 0.5 percentage point reduction. Obama is expected to make the announcement on Thursday in a scheduled speech on the housing market.

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- Sunil Sethi

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