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News & Press: Industry News

FHA Cuts Mortgage Insurance Premium

Wednesday, January 18, 2017  
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FHA Cuts Mortgage Insurance Premium

HUD announced a quarter-percent reduction in the annual FHA mortgage insurance from .85 percent to .60 percent for mortgages with a disbursement date on or after Jan. 27. The insurance premium is down from a high of 1.35 percent in April 2013, but still slightly higher that the .55 rate that existed prior to the 2008 recession. The reduction was made possible by the fact that the FHA's reserves exceeded their target for the second year in a row.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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