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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
The Department of Housing and Urban Development cut the Federal Housing Administration’s mortgage insurance premium by 30 basis points, a move that many stakeholders think is long overdue.
The cut drops premiums from 85 basis points to 55 basis points — reverting premiums to a level not seen since before the 2008 housing crisis. This will on average result in yearly savings of about $800 for homebuyers.
The FHA’s Commissioner Julia Gordon confirmed they decision, noting that the cut will give homebuyers “a little room to deal with inflation” and is meant to be “meaningful” without jeopardizing the FHA insurance fund.
