One of President Donald Trump’s first acts of office was to roll back a planned rate cut for FHA insurance premiums.
The original policy, promoted by the Barack Obama administration, could have saved homeowners getting homes with financing backed by the government hundreds of dollars. The Chicago Tribune has a great run down on what this means for the industry and those using government-backed financing.
As initially proposed, the rate cut was said to be the result of a better economy. The Trump administration apparently has some questions about whether this policy makes fiscal sense. The rate cut has now been suspended indefinitely.