Estimates reduced MI premiums could bring in 40,000 new homebuyers
By Ben Lane | HousingWire
The National Association of Realtors believes that the Trump administration’s recent decision to suspend a reduction in the Federal Housing Administration’s annual mortgage premiums will keep as many as 40,000 potential homebuyers from becoming actual homebuyers in 2017, and wants the premium cut reinstated “as soon as possible,” the trade organization said last week.
In one of the Trump administration’s first actions after President Donald Trump took the oath of office, the Department of Housing and Urban Affairs suspended a cut to the FHA’s mortgage insurance premiums, which was announced by the outgoing Obama administration in early January.
