The White House is aiming to lower mortgage rates on loans insured by the federal housing administration.

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Biden Admin Aiming to Lower Mortgage Rates

Meanwhile, the by administration taking more steps to make homeownership more affordable, the federal government trying to lower mortgage insurance premiums right now, they currently stand at .85%, and that change will lower them 2.55%, and that's expected to save thousands of homebuyers about $800 in financing costs this year. That reduction only though, impacts loans insured by the federal housing administration that largely is made up of low and middle-income buyers Chloe.