Affordable Housing, Announcements, Federal News

FHA Report Indicates A More Stable Housing Market Nationwide

National Association of Realtors and Federal Housing Administration

The Federal Housing Administration (FHA) released an actuarial report demonstrating an improving Mutual Mortgage Insurance Fund (MMIF), suggesting an increasingly stabilized housing market. The MMIF is responsible for paying lenders if an FHA mortgagor defaults.

FHA provides financial products to assist low and moderate income households achieve homeownership. The National Association of Realtors believes this is a strong indication that FHA homeownership products are soundly meeting its objectives.

The report shows the MMIF’s overall economic value has increased by $3.8 billion in the 2016 Fiscal Year. Likewise, the report shows the fund’s “seriously delinquent” rate to be at a 10-year low, which includes single-family home mortgages that are either in foreclosure or 90 or more days past due.

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