buying a home
“This is terrific news for borrowers who have been frustrated by the general run-up in mortgage rates,” said Brad Seibel, head at Sage Mortgage. “This reduction will translate directly into lower payments for the consumers and provide first-time homebuyers with a positive lift just when they need it the most.”
The lowered insurance rate also is available to refinance deals, but in my view, these are not in play as mortgage rates are twice as high as they were a year ago. FHA was oftentimes the only deal in town for marginally qualified borrowers, including those with the lowest middle FICO score of say under 680 and higher debt-to-income ratios, for example.recently changed their risk-based pricing schemes
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: