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Home Buyers Get a Rare Price Break on Mortgage Insurance Premiums

Everything in the world of real estate seems to be getting more expensive these days: from home prices to mortgage rates to the furniture you’ll need to fill up that new place. So it’s good to hear that some home buyers will finally get a break. Mortgage insurance premiums are slated to go down by 0.25% on Federal Housing Administration–insured loans that close on or after Jan. 27, the agency announced on Monday. (Buyers who don’t put down at least 20% on their homes are typically required to pay the monthly—and often costly—mortgage insurance.) A quarter of a percentage point may not sound like much, but it’s expected to save new homeowners an average of $500 a year. High-fives! And with mortgage rates expected to ...