Trump Suspends Planned Rate Reduction
One hour after President Donald Trump took office the Department of Housing and Urban Development suspended the pending insurance premiums planned rate cut. This shows the next administration is going to be very cautious and conservative. While this will restrict some borrowers from buying a more expensive home (or any home at all) overall it will help to insure that the FHA is still viable and able to insure these higher risk mortgages without needing another bail out. The new administration wants more time to evaluate and analyze the FHA mortgage insurance rates before agreeing to change the rates. See the article below for more details.
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