FHA Mortgage Insurance Increase In Effect October 4

The FHA, which now owns or backs the majority of new mortgages in the US, is suffering from low capital reserves (below the required 2%).  A series of changes were mandated last January, and the mortgage insurance fees increase today.   FHA loans are popular because they require a low downpayment (as little as 3.5%), offer seller concessions (which are changing from 6% to 3%) and credit score