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HUD Secretary: Getting a Mortgage Will Be a Bit Easier This Year

National Mortgage News, By Brian Collins

Greater availability of mortgage credit along with an improving picture in the general economy will make 2015 a year of “housing opportunity,” Housing and Urban Development Secretary Julian Castro said Wednesday.

Castro, who spoke during a discussion hosted by Zillow at the Newseum, said getting a mortgage is a “little more in reach,” thanks in part to new federal policies. They include a reduction in mortgage insurance premiums by the Federal Housing Administration and the Federal Housing Finance Agency’s lower down payment requirements on Fannie Mae and Freddie Mac loans.

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