The Federal Housing Administration (FHA) announced this week that it is increasing the annual mortgage insurance premium by 0.10 percent on most loans and 0.05 percent on jumbo loans ($625,500 and higher). Borrowers will also be required to pay the premiums for the life of the loan. FHA has announced these and other changes as a way to bolster its capital reserves. Read the FHA news release for more details.
Some news coverage of the FHA change:
FHA to tighten underwriting, raise premiums – Inman News