St. Louis Mortgage Rate Update; Mortgage Insurance Premiums Increase for FHA Loans

Acting FHA Commissioner Carol Galante recently announced a new premium structure for FHA-insured single family mortgage loans.  FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent .   Upfront premiums (UFMIP) will also increase by 0.75 percent.

 

“After careful analysis of the market and the health of the MMI fund, we have determined that it is appropriate to increase mortgage insurance premiums in order to help protect our capital reserves and to continue encouraging the Continue reading “St. Louis Mortgage Rate Update; Mortgage Insurance Premiums Increase for FHA Loans