Real Estate

Trump's team suspended a mortgage insurance rate cut. Here's what that means

Trump's team suspended a mortgage insurance rate cut. Here's what that means

On Friday, the Trump administration suspended a pending rate cut to FHA mortgage insurance that the outgoing Obama administration announced just a week earlier. 

The decision to indefinitely suspend the planned cut was one of the new administration’s first acts. As a result, a decision over insurance premiums for home loans backed by the federal government received outsized attention from both the media and politicians. 

Confused? We’ll try to help sort it out. 

What is the FHA?

The Federal Housing Administration is a government agency that insures home loans and collects fees from borrowers to reimburse...

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