For 30 year mortgages, the upfront is moving down from 2.25% to 1% and the monthly is moving from .55% to .9% for those putting less than 5% down and .85% for those putting more than 5% down payment.  Here is a link to an article discussing the changes: 

http://www.washingtonpost.com/wp-dyn/content/article/2010/08/05/AR2010080506663.html

 The question you might be asking is "is this a consumer benefit?" Here is one interpretation:

http://www.thinkbigworksmall.com/mypage/archive/1/52542/

On a separate note, doing a short refi with an FHA loan MAY be possible if the servicer agrees.  Here is the FHA rule:

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/10-23ml.pdf

So, here we go again.  Life is about change and adapting to it.  Hopefully this does what it is intended to do.  Time will tell.