Mortgage insurance premiums on loans backed by the Federal Housing Administration will drop from 0.85% to 0.55% beginning March 20.
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The former Keller Williams lending unit will operate alongside Mutual of Omaha Mortgage’s existing mortgage divisions.
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The pace of mortgage applications fell 7.7% in the week ended Feb. 10, the Mortgage Bankers Association reported.
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The 30-year fixed rate fell for the fifth week in a row, giving a lift to lending activity, the Mortgage Bankers Association said.
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The 30-year fixed-rate inched to 6.42%, which is still close to the lowest rate in a month, the group said.
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The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
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In the wake of this new rule, FHA borrowers will have a choice between federal flood insurance and private flood insurance.
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The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said.
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Georgia-based Infinity RE Impact recently acquired a 13-asset portfolio of affordable multifamily communities in Georgia and South Carolina.
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The move comes as the company prepares to begin construction of the 37-home second phase of the development, Sweetwater Springs.
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