According to the FHA, it will cut the annual mortgage insurance premiums most borrowers will pay by one-quarter of a percentage point, or 25 basis points.
The FHA said that it projects that its new premium rates will save new FHA-insured homeowners an average of $500 in 2017 alone.
According to the FHA, the cut applies to new mortgages with a closing or disbursement date on or after Jan. 27, 2017… Click Here to read the entire article from Housing Wire.
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