FHA Mortgage Insurance Premium Cut – what’s the latest?

The National Association of REALTORS® (NAR) has acted swiftly to encourage the reinstatement of the suspended FHA mortgage insurance premium cut. The reduction of 25 basis points had been set to take effect on January 27, but was suspended almost immediately following the inauguration of President Trump. NAR estimates that the cut would have enabled 30,000 to 40,000 more Americans to become homeowners in 2017. In a letter addressed to Dr. Ben Carson, 2017 NAR President Bill Brown urges consideration of the critical role that FHA has in facilitating access to the American Dream, particularly for low and moderate-income Americans and first-time homebuyers. Read more on the appeal here, and stay tuned to our updates on this industry issue.

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