Finally, some good news for FHA loan applicants. Since January 2008 FHA steadily raised FHA Mortgage insurance premiums to help make up for steep losses incurred as a result of the housing bust. Apparently the FHA mortgage insurance pool is back on healthier footing because as of yesterday FHA mortgage insurance premiums are actually declining! HERE IS A LINK to the mortgagee letter announcing the reduction. And here is a recent history of FHA Mortgage insurance premiums:
Here is the chart showing updated FHA mortgage insurance premiums as of yesterday:
