One of the first acts of our new administration was to rescind the .25% reduction in the mortgage insurance rate that was to have taken effect on January 27. The current rate is .85%, and it will now stay that way. Before the last housing bust, the rate was .55%, and as losses started to mount, it increased to 1.35% to replenish the fund that is mandated to hold 2% of the potential FHA liability. According to the new administration, this proposed change was politically motivated, but that there is not enough cushion in the fund to lower the rate at this time. I don't know if that is true or not, but I do know that while we do have a healthy housing market, one thing that is holding potential millennial buyers back is the lack of availability of credit. I hope this decision is based on more than just politics.