What's Hot: Douglas Development Files PUD For Large Warehouse At New City Site Along New York Avenue
Trump Administration Suspends Mortgage Insurance Rate Relief
✉️ Want to forward this article? Click here.
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
![First-Timer Primer: Tax Relief for DC Homeowners](https://assets.urbanturf.com/dc/images/blog/2013/02/Homestead_Exemption_280.jpg)
When you buy a home in the District, you will have to pay property taxes along with y... read »
![A 127-Unit Luxury Condo Building In The Works For Downtown DC](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/950%203rd%20Street%20Dusk%20EXT_image_560x420.jpg)
The largest condominium building in downtown DC in recent memory is currently under c... read »
![HPO Recommends Approval For 160-Unit Office-To-Residential Conversion in Dupont Circle](https://assets.urbanturf.com/dc/images/blog/2024/06/resized/1201-Conn_image_560x420.jpg)
The plan to convert a Dupont Circle office building into a residential development ap... read »
![Beautifully Constructed Condominium in The Bridge District is Now 50% Sold](https://assets.urbanturf.com/dc/images/blog/2024/07/Riviere%20article/resized/2305%20Nicholson%20St%20SE%20405-0003_image_560x420.jpg)
The Rivière includes just 20 homes located on the eastern banks of the Anacostia Riv... read »
![Monday's Must Reads](https://assets.urbanturf.com/dc/images/blog/2024/07/resized/bubble_image_560x420.jpg)
Why Tyra Banks is serving ice cream in DC; a bike shop/record store opens in Adams Mo... read »
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