Obama to announce cut in FHA premiums: Bloomberg

Reuters News
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Posted: Jan 07, 2015 10:35 AM

WASHINGTON (Reuters) - U.S. President Barack Obama is set to announce a 0.5 percentage point reduction of Federal Housing Administration mortgage insurance premiums to 0.85 percent, Bloomberg reported on Wednesday.

Obama is expected to make the announcement in a speech in Phoenix on Thursday, Bloomberg said, citing sources.

Reuters could not immediately confirm the report.

(Reporting by Susan Heavey; Editing by Bill Trott)