The New York Times – Lisa Prevost
An announcement by the Obama administration that the Federal Housing Administration would lower its annual insurance premiums by 0.5 percentage point could make it possible for a quarter-million more borrowers to buy their first homes, according to the agency’s estimates.
Since 2010, insurance premiums on the low-down-payment mortgages backed by the F.H.A. have soared 145 percent in order to help raise funds to restore the agency’s badly depleted reserves. But there have been growing complaints that the increases have made the loans too costly for the buyers who need them most.
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