02/24/2023
Great news for homeowners (and buyers) with FHA-insured mortgage loans! The FHA is reducing insurance premiums by about $800 a year on a typical loan. Nearly one in six homebuyers used an FHA-insured loan in December 2022. Officials expect the fee reduction to benefit roughly 850,000 home buyers and homeowners in 2023.
The move by the Biden administration is a bid to boost affordability while median home prices remain near records.