News from HUD: Reduction in annual mortgage insurance premium

The Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), announced a 30-basis point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who obtain an FHA-insured mortgage. The premium will be reduced from 0.85% to 0.55% for most homebuyers seeking an FHA-insured mortgage, which could mean an … Continue reading News from HUD: Reduction in annual mortgage insurance premium

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The median price forecast indicates positive annual growth for July, August, and Septemberin both Illinois and the Chicago PMSA. In Illinois, the median price is forecast to change by8.6% in July, 9.8% in August, and 10.3% in September. For the Chicago PMSA, thecomparable figures are 9.5% in July, 11.8% in August, and 12.7% in September. … Continue reading Forecast