Federal Housing Administration’s plan to reduce annual
mortgage insurance premiums likely will have a positive impact on springing first-time buyers into action. FHA, which offers loans with down payments as low as 3.5 percent, decreased its insurance premiums on
Jan. 26 from 1.35 percent to 0.85 percent. Young couples and singles
are making a belated entry into the home-buying market, confirms several
recent housing reports. Rising
rents are prompting more millennials to move toward home ownership,
along with an extra push from mortgage rates being in the mid-3 percent
range,read more.
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