Real Estate Boost for 2015
Reduction in FHA insurance makes home buying more affordable The President announced on Wednesday that the federal government will reduce PMI insurance premiums on FHA loans with the goal of making it easier for Americans to own a home. This is fantastic news for anyone in the market for real estate since this reduction will save home buyers an average of $900 a year. The lower insurance premium will affect 800,000 home owners immediately, as they will save on their monthly mortgage payments. This change is coming out at a great time considering all of the other positive news in the Real Estate industry the first week of 2015. Unemployment is down, gasoline prices are the lowest in 7 years and spending power is up. In the Tampa Bay market, SI Real Estate is already noticing the enthusiasm and buzz this news is bringing to the area. Federal Housing Administration loans are largely popular for many home buyers in America. “I want to talk about helping more families a...