In the beginning of this year, President Obama announced a fee cut for FHA-backed mortgages, intended to help first-time buyers.
The Wall Street Journal real estate reporter Joe Light takes a retrospective look at how the cut affected homebuying during the half-year since it took effect.
“According to research by Andy Winkler, director of housing finance policy at the right-leaning American Action Forum, the number of homebuyers has increased, but some of the gains are going to more well-heeled buyers that the administration didn’t intend to target,” Light writes.
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