Morning Minute: Higher insurance premiums ahead for FHA-backed mortgages

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 hike premiums on mortgagesCNN

FHA to tighten underwriting, raise premiumsInman News

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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