NAHB official: Proceed cautiously with FHA reform efforts

NAHB official recently testified on Capitol Hill about the FHA.Any attempts to reform the Federal Housing Administration need to ensure that the changes made don't affect borrowers' ability to access affordable home loans, according to leading official from the National Association of Home Builders.Speaking before the House Financial Services Subcommittee on Housing and Insurance, NAHB vice chairman Kevin Kelly indicated that while the FHA may need to be altered in order to avoid another real estate collapse, lawmakers need to keep borrowers in mind insofar as what the reforms do to make lending more or less difficult.”Housing has led America out of every economic downturn and can do so again if the future policies regarding housing finance reforms are addressed in a manner that provides liquidity for the entire housing sector,” said Kelly.He added that the Congress ought to proceed with discretion and prudence? by not altering current FHA programs significantly.For much of the past few years,?lending rates for Houston homes have been at record lows. According to Freddie Mac's latest Primary Mortgage Market Survey, 30-year, fixed-rate mortgages averaged 3.4 percent for the week ending April 11. That's down approximately four basis points from last year at the same time.
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