Money Mortgage insurance costs dropping for some new homebuyers. Here’s how much you could save. February 22, 2023February 23, 2023Bailey Schulz, USA TODAYComments Off on Mortgage insurance costs dropping for some new homebuyers. Here’s how much you could save. The FHA is set to reduce the annual mortgage insurance premium from 0.85% to 0.55% for most new borrowers seeking an FHA-insured mortgage.