Biden Announces New Plan to Help Homeowners Save on Mortgage Costs
Pro Builder
FEBRUARY 23, 2023
Under the new initiative, the Federal Housing Administration will reduce mortgage insurance premiums by 0.3 percentage points to 0.55% for FHA-insured mortgages. The program is set to begin on March 20, and will help an estimated 850,000 U.S. households save an average of $800 in the year ahead, the White House claims.
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