On September 14 NAR signed on to letter to the National Economic Council urging a reduction of the Federal Housing Administration’s (FHA) annual mortgage insurance premium (MIP). As interest rates continue to rise and economic conditions worsen, it is critical for FHA to reduce the annual MIP so low to moderate-income and first-time home buyers remain competitive in the housing market.
NAR was joined in the letter by the Mortgage Bankers Association, National Association of Homebuilders, and Manufactured Housing Institute.
Coalition Letter to National Economic Council Regarding Mortgage Insurance Premium Reduction
Issue Date: September 14, 2022
Download the Letter