What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Trump Administration Suspends Mortgage Insurance Rate Relief
On Friday, one hour after Donald Trump was inaugurated president, one of his administration’s first acts was to halt an order intended to keep mortgage insurance premiums down.
The Department of Housing and Urban Development (HUD) issued an emergency order indefinitely suspending an initiative President Obama recently passed to reduce the Federal Housing Administration (FHA)’s annual mortgage insurance rates, the second time Obama reduced premiums in a two-year span.
story continues below
loading...story continues above
The new administration stated that Mortagee Letter 2017-01, which was supposed to go into effect at the end of this week, bears further study before any decisions on mortgage insurance premiums are made going forward. As it was passed earlier this month, the Letter would have reduced federal mortgage insurance on newly-issued loans by 0.25 percent, potentially reducing annual premiums by $446 on average.
This decision aligns with HUD secretary nominee Ben Carson’s stance that government subsidies may not be necessary to create or preserve affordable housing.
See other articles related to: fha, fha mortgage insurance, hud
This article originally published at https://dc.urbanturf.com/articles/blog/new_administration_suspends_mortgage_insurance_rate_relief/12071.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
In a sought-after Petworth location—steps from the Petworth farmers market, the Pet... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- Just 10 Residences, From the Low $300s, Debut in the Heart of Petworth
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro