Sanders Welcomes Relief for New Homebuyers
WASHINGTON, Jan. 7 – Sen. Bernie Sanders (I-Vt.) welcomed President Barack Obama’s announcement today that the Federal Housing Administration will cut mortgage-insurance premiums as part of an effort to expand opportunities for first-time homebuyers.
Annual fees the agency charges to guarantee mortgages will be cut by 0.5 percentage points from the current rate of 1.35 percent.
Sanders and 17 other senators had signed a letter asking the Obama administration to take the action that the White House announced.