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Statement from Secretary Castro on the Decision to Reduce FHA's Mortgage Insurance Premiums

Statement

Date: Jan. 7, 2015
Issues: Finance and Banking Housing and Property

This action will make homeownership more affordable for over two million Americans in the next three years. Since 2009, the Obama Administration has taken bold steps to reduce risks in the mortgage market and to protect consumers. These efforts have made it possible to take this prudent measure while also ensuring FHA remains on a positive financial trajectory. By bringing our premiums down, we're helping folks lift themselves up so they can open new doors of opportunity and strengthen their financial futures.


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