I am sure even if this passes, there will be a future date when these new rules will come into effect and people who are able to get their loans before that date will pay the lower premiums. Really curious to see if this passes in the same format in the Senate, because I really do think this is going to hurt home prices quite a bit in places like San Diego. I have been watching the market closely here and have already observed that condo or townhome communities which are not FHA approved seems to be selling at a discount compared to ones which do….buy that itself I can see that disqualifying FHA buyers shrinks the buyer pool quite a bit, also I guess folks with higher downpayment tend to negotiate harder. It will be a interesting few months for the housing market.
