I mentioned this might happen earlier, and now it’s going to happen on the 26th of January 2015.
FHA is reducing their monthly mortgage insurance premium on a 30 year mortgage from 1.35bps to .85bps.
The result of this is that it puts it back squarely in competition with Conventional Mortgages. …and, ultimately there will be more FHA mortgages originated.
This has needed to happen. FHA MI was too high for a long time.
That’s it for today!
Thanks for reading.
Brett
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