HOUSING MAKES HEADLINES

HOUSING MAKES HEADLINES

In early January a sharp decline in interest rates, coupled with buzzing announcements to reductions on popular federally-insured home loans, resulted in both purchase and refinance volume at their highest in six years, according to a CNBC report. After rates … Continue reading

OBAMA ANNOUNCES CUTS TO FHA INSURANCE PREMIUMS

OBAMA ANNOUNCES CUTS TO FHA INSURANCE PREMIUMS

The White House announced Wednesday that the Federal Housing Administration (FHA) will reduce mortgage insurance premiums in an effort to boost U.S. homeownership. Bloomberg first reported Wednesday that FHA will cut its mortgage insurance premiums to 0.85 percent, a 0.5 … Continue reading

FHA TO REDUCE MORTGAGE INSURANCE PREMIUMS

FHA TO REDUCE MORTGAGE INSURANCE PREMIUMS

Effective January 26, 2015 FHA (Federal Housing Administration) will be lowering the annual MIP (Mortgage Insurance Premium) by .50%. The current annual MIP is 1.35% and it will be dropping to .85%. when making the minimum down payment of 3.50%. This is … Continue reading