Urban Institute: 4 positive ways FHA cuts will impact mortgages

Julie C. Nichols General

Housingwire – Brena Swanson

The recent announcement that mortgage insurance premiums for Federal Housing Administration mortgages will decrease from 1.35% to 0.85% is welcome news for the mortgage industry, according to a new post from the Urban Institute. “Existing homeowners who refinance into an FHA mortgage will see similar reductions to their mortgage payments as well,” said a statement from the White House at the time of the announcement. “In total, this action will help millions of families save billions of dollars in mortgage payments in the coming years, helping to support the housing market recovery.”

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