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Home / National News / Obama to reduce FHA mortgage premium rate to spur buying (access required)

Obama to reduce FHA mortgage premium rate to spur buying (access required)

WASHINGTON  — First-time homebuyers whose home loans are guaranteed by the Federal Housing Administration would benefit from an Obama administration move to lower mortgage insurance premiums. Under the plan, the housing administration will reduce annual mortgage insurance premiums by 0.5 percent, to .085 percent. The White House says the reduction means new homebuyers would pay $900 ...

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