Minneapolis Real Estate Blog

Ray Klotz-Edina Realty 763-557-4540

It’s Official – FHA Increasing MIP Fee

FHA will be raising its mortgage insurance premium (MIP) from 1.75% to 2.25% this spring. It would behoove all those interested in financing their purchase of a home with FHA financing to do this now versus latter.  In effect, the monthly payment will increase by .5%.  Compounding this is the Federal Reserve has allocated 1.4 trillion dollars to buy mortgage back securities, artificially keeping interest rates down. This will end sometime in March 2010.  It is likely that the monthly mortgage payments will be going upEdina Realty


February 18, 2010 - Posted by | Uncategorized

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: