.jpg){kind=avatar}
New - 6 Hours Ago
The new mortgage executive order, signed October 22, 2026, goes after two costs Colorado buyers pay: private mortgage insurance (PMI) and the title fees on a refinance. The White House fact sheet directs the Federal Housing Finance Agency (FHFA) to build a pilot that cancels PMI once a borrower has enough equity based on today's home value, and to make a title-insurance waiver for refinances permanent. If you are buying in Aurora, Denver, Littleton or Colorado Springs with less than 20% down, here is what changes for you, what does not, and the math at a 7.32% rate.
Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree.
Oct. 22 Mortgage executive order signed White House fact sheet | 7.32% 30-year fixed mortgage rate Freddie Mac, October 22, 2026 |
$500-$1,500 Closing-cost savings, refi title waiver FHFA estimate, 2024, via Beinsure | New loans Only loans made after the PMI pilot starts Insurance Business |
What the mortgage executive order does
The White House fact sheet, dated October 22, lists four parts to the order, titled "Decreasing Housing Costs for the American People":
- A PMI cancellation pilot. The FHFA director is to create a pilot that cancels mortgage insurance once a borrower meets equity requirements based on the home's current market value. Insurance Business reports Fannie Mae and Freddie Mac would recheck values with automated valuation models and servicers would tell borrowers when cancellation is possible.
- A permanent title-insurance waiver for refinances. The FHFA pilot that lets some refinances skip the lender's title policy becomes permanent. Insurance Business reports the order also lifts the current 80% loan-to-value cap and the limit to certain states.
- Lower rates on VA and USDA direct loans. The Agriculture and Veterans Affairs secretaries are to cut rates on single-family home loans their departments make.
- A manufactured housing task force, co-chaired by HUD and the FHFA, with 180 days to report back, per Insurance Business. We covered the Denver side of that in Denver ranks No. 2 for manufactured housing.
The fact sheet gives no start dates, no equity thresholds and no dollar savings. Insurance Business reports the PMI pilot covers only loans made after it launches, so borrowers already paying PMI do not benefit directly. The U.S. Mortgage Insurers trade group points out the order asks the FHFA to consider a pilot, not to launch one on a set date. Freddie Mac put the 30-year fixed rate at 7.32% on October 22, down from 7.40% a week earlier and up from 6.19% a year ago.
| Part of the order | Who it helps | What we know today |
|---|---|---|
| PMI cancellation pilot | New Fannie Mae and Freddie Mac borrowers with under 20% down | No start date; new loans only |
| Refi title-insurance waiver | Homeowners who refinance | $500-$1,500 savings (FHFA estimate, 2024) |
| VA and USDA direct-loan rates | Borrowers with loans made by those departments | No size or date given |
| Manufactured housing task force | Buyers of factory-built homes | Report due in 180 days |
| 30-year fixed rate | Every buyer | 7.32% (6.19% a year ago), Freddie Mac |
How this affects you
Buyers. PMI is the cost of putting less than 20% down on a conventional loan, and Fannie Mae puts it at 0.2% to 2% of the loan a year, per Beinsure. On a $500,000 Aurora home with 10% down, that is $75 to $750 a month on top of $3,091 in principal and interest at 7.32%. Under today's rules, PMI on that loan ends on its own at 78% of the original value, which takes 119 payments, nearly 10 years. Shop PMI quotes and credit scores before you shop houses: run your numbers on the Colorado mortgage calculator.
Sellers. Nothing in the order lowers a buyer's payment this month, so Colorado buyers still need help at the closing table. Offer a seller-paid buydown or closing costs instead of a bigger price cut: see how seller concessions work in Colorado and the 3-2-1 rate buydown program. Start with a home value report.
Homeowners. If you pay PMI today, you do not need a pilot. Federal law already lets you ask to cancel at 80% of the original value, and coverage ends on its own at 78%, per Insurance Business. If your home has gained value, ask your servicer what it takes to drop PMI with a new appraisal. The refi title waiver matters once rates fall: on a refinance, $500 to $1,500 less in closing costs shortens your break-even.
The Colorado market. A value-based PMI rule pays off when prices climb. 9NEWS reported Denver's average sales price fell 2% in September from a year earlier, so equity from price gains is slow right now; on our $450,000 example loan the home has to be worth $562,500 for 80% loan-to-value. Today, kennarealestate.com shows 1,497 Denver homes and 971 Aurora homes listed between $400,000 and $700,000, the range where most low-down-payment buyers shop. See why Denver has more sellers than buyers.
What to watch out for
- No date yet. The fact sheet sets no start date for the PMI pilot. Do not wait on a purchase for a program that has not launched.
- New loans only. Per Insurance Business, the pilot leaves out loans made before it starts. If you have PMI now, use the 80% request rule you already have.
- FHA is a different animal. FHA mortgage insurance follows FHA rules, not PMI rules. Compare both in FHA vs. conventional loans.
- VA-backed loans from lenders. The order names loans the VA and USDA make themselves. A VA loan from a private lender is a different product; ask our lender partner which one you have.
- "Save thousands" claims. FHFA Director Bill Pulte said on X that millions will save "thousands and thousands of dollars." No dollar estimate is in the fact sheet. Plan on today's costs.
How to pay less for PMI on a Colorado home
To pay less for PMI on a Colorado home, raise your credit score, put more down where it moves the price tier, and set a plan to cancel PMI at 80%. The order we use with our buyers:
- Get pre-approved with our lender partner and ask for the PMI quote in writing, not only the rate. Check today's Colorado mortgage rates.
- Ask how PMI changes at 5%, 10%, 15% and 20% down. Pricing steps by down payment and credit tier: see loan-level pricing adjustments.
- Check CHFA down payment assistance and the Colorado first-time buyer guide to grow your down payment.
- Budget the rest of the cash to close with closing costs in Colorado.
- Put a calendar note on your 80% date. Extra principal payments move it up: On our $450,000 example loan at 7.32%, reaching 80% takes 104 payments; adding $100 a month to principal gets you there in 86.
Homes for sale in the Denver metro today
Active listings on kennarealestate.com, October 26, 2026
| Area | Homes for sale | Average list price | Average days on market |
|---|---|---|---|
| Denver | 3,858 | $689,306 | 89 |
| Colorado Springs | 3,128 | $567,692 | 84 |
| Aurora | 1,939 | $469,030 | 85 |
| Littleton | 861 | $789,734 | 80 |
| Parker | 586 | $853,413 | 80 |
| Castle Rock | 549 | $1,016,985 | 89 |
| Arvada | 524 | $675,702 | 72 |
| Lakewood | 424 | $566,961 | 81 |
| Thornton | 415 | $491,219 | 69 |
| Centennial | 283 | $670,302 | 68 |
| Highlands Ranch | 227 | $718,608 | 67 |
Active residential listings on kennarealestate.com on October 26, 2026. Looking for a lower payment? See affordable homes in Aurora, affordable homes in Denver and homes with assumable mortgages, where the seller's lower rate comes with the house.
