Answer it will exist in the future and the price may or may not go up Private Mortgage Insurance is needed now more than ever. For a brief time lenders were starting to offer mortages above 80% without requiring PMI. These were subprime lenders; and almost all of them are out of business now.
When the economy turned bad in 2007 and homes started going into foreclosure those lenders lost everything. The PMI companies are now paying record claims due to foreclosures and it is this insurance coverage that has saved many banks from complete ruin. They will not go back to offering loans without PMI to risky borrowers.
Indeed the premiums for that insurance will most likely go up. It is already harder to qualify for the insurance.
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