FHA To Announce Premium Increases

Here is another reason to buy now!  Last week, President Obama released his budget for fiscal year 2013. As part of the overall budget, and as the commentary reminded folks of yesterday, HUD stated that it will be implementing a 10 basis point increase to annual premiums for single family loans, and a further 25bp increase for loans over $625,500. So even though the FHFA has already implemented this for Freddie & Fannie, it is only a matter of time until the change hits government production.