Quote: Mar. 3, 2023

“There are 50 million Americans between the ages of 28 and 38. Many of these young adults want to buy a home and will do so as mortgage rates decline, joining the tens of millions of families that have achieved homeownership with the help of the FHA. Far from receiving a subsidy, FHA buyers have been overpaying the government in recent years, paying premiums well in excess of the risk they pose. The health of the program, with a capital-reserve ratio several times the statutory minimum, gives HUD the capacity to lower premiums when it is most needed: now.”
–MBA President & CEO Bob Broeksmit, CMB, in a letter to the Wall Street Journal.