The 25-basis-point reduction in Federal Housing Administration premiums that was previously announced by the outgoing Obama administration has been suspended by The Department of Housing and Urban Development.
The reduction in annual premiums was expected to go into effect January 27th, but the incoming Trump administration seemed opposed to the idea of the cut as soon as it had been announced and the decision to put a halt on it was announced shortly after Donald Trump was sworn in as president on Friday.
National Association of Realtors President William Brown said Thursday that a suspension "leaves the door open to implement the cut in the near future."
