FHA to cut mortgage insurance premiums: White House

By Lindsay Dunsmuir WASHINGTON (Reuters) – The Federal Housing Administration will reduce annual mortgage insurance premiums by 0.5 percentage point to 0.85 percent from 1.35 percent, the White House said on Wednesday. President Barack Obama will discuss the action in a speech in Phoenix on Thursday. The premium cut is the latest in U.S. government efforts to widen mortgage access against a …

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FHA to cut mortgage insurance premiums: White House