Sunday, 22 January 2017

What Trump’s first executive action on mortgage premium cuts means for you

President Donald Trump blocked an Obama administration policy Friday that would have reduced the cost of mortgages for millions of home buyers.
President Trump, flanked by Vice President Pence and chief of staff Reince Priebus,

Here’s a look at what Trump’s first executive action means for your mortgage:
What happened?

In the first hour of Trump's presidency, the U.S. Department of Housing and Urban Development sent a letter to lenders, real estate brokers and closing agents suspending the 0.25 percentage point premium rate cut for Federal Housing Administration-backed loans. The new rates, announced on Jan. 9, would have gone into effect on Friday.


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