The move lowers the premium for most borrowers to 0.55% from 0.85%.
Savings for the 850,000 homebuyers and homeowners who have FHA loans could average $800 in 2023, per the White House.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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FHA Cuts Mortgage Insurance Premiums by 30 Basis Points
The Biden administration announced that the Federal Housing Administration will reduce the annual mortgage insurance premium it charges by 30 basis points. So reports NBC News.
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