Borrowers will save as mortgage insurance premiums drop

Homebuyers are poised to see lower monthly payments in many cases as mortgage insurance firms cut premiums this spring.

Both Radian and MGIC, two large private mortgage insurers, announced they are cutting premiums due to new tax laws. MGIC said Monday that it expects many borrowers to see an 11 percent savings on insurance premiums on average. Radian made a similar announcement several weeks ago, and analysts are now expecting the entire marketplace for private mortgage insurance to react with similar price decreases.

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via Naza Finance Blog