Last week the FHA Commissioner announced that FHA’s new mortgage insurance premium structure will become effective with new loans starting October 4, 2010. The new structure will result in a lower upfront premium but an increase in the annual premium. The question is what impact will this have on our ever-so-fragile real estate market? With the one of the countries highest FHA backed loan concentrations, the annual mortgage insurance premium increase may result in less buyers qualifying for FHA back loans and potentially being driven to remain in the rental market.