Study Finds 37 Percent of Homebuyers Purchased MI Over Past Decade

Research released by TD Bank revealed that 37 percent of those who purchased a home in the past 10 years—and 43 percent of those who did so within the last two years—required mortgage insurance (MI). Of those who required PMI (private mortgage insurance), 65 percent said that the addition of a mortgage insurance premium left them paying a higher monthly mortgage payment than they originally expected.Click to continue