FHA Announces Reduction in Mortgage Insurance Premiums

In January President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS whose members have called for lower fees on FHA loans since early 2014. NAR raised concerns about the costly premiums toContinue reading “FHA Announces Reduction in Mortgage Insurance Premiums”

National Fiscal Cliff Averted for Now…

On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” President Barack Obama signed the bill into law on Jan. 2. The fiscal cliff agreement is good news to some extent, although it shouldn’t be ignored that lawmakers had 507 days to address this problem, but waited untilContinue reading “National Fiscal Cliff Averted for Now…”