Sorry for asking you to think a little whazzup, instead of just reacting with your usual smart ass comment.  The new insurance rate will be 2.8% for someone that has at least 15% down, but less than 20%. On a $500k mortgage, the insurance cost would be $14,000.  There are more than a few people smart enough to know that it would be cheaper to find a second source of funds and accelerate the payment on that loan, rather than pay the insurance cost.

The secondary market is growing very quickly, but don't let the facts get in the way of your usual smug reaction.