If you saw the recent White House announcement of lower insurance payments on Federal Housing Administration home mortgages, you might have wondered: Does this matter to me as a potential home buyer or refinancer? Who specifically will benefit from the decrease in fees?
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 …