The FHA has increased the mortgage insurance premium by 25 basis points for loans with case numbers assigned after April 18. This is the 3rd increase in the last 12 months, which FHA states is necessary to restore the agency’s finances. The National Association of Realtors opposes the increase. What does this increase mean? It means another $30 dollars a month out of the pocket of the average home buyer. For more information on this please visit www.hud.gov.
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