Mortgage And Real Estate News

Wednesday, January 28, 2015

New mortgage rules help millennial home buyers

First-time home buyers, many of them millennials, will receive some long-awaited mortgage assistance this year thanks to recent moves in Washington.

The administration earlier this month cut the premium that borrowers with a Federal Housing Administration loan must pay for mortgage insurance to 0.85% from 1.35%. The half a percentage point reduction will reduce the cost of the average FHA loan by about $1,000 per year.

Read more...  http://bit.ly/1zXi3uK?cc=664ff2651a1f317875c94aa4db6647a8

Reuters: Business News

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