Increasing mortgage interest rates and home prices have rapidly made it much more difficult for Vermonters to purchase their first homes. About half as many renters can afford to purchase their first home in 2022 compared to 2021, based on VHFA’s recent analysis of sales price and interest rate trends.

National mortgage interest rates rose substantially from 2021 to 2022. The 30-year mortgage interest rate increased from 2.74% in January 2021 to 5.52% in June 2022. Meanwhile, Vermont’s home prices were also rising. The median primary home sold for $259,900 in January through June 2021, increasing to $295,000 in 2022.

Governor Phil Scott has appointed Marie Milord-Ajanma (she/her) of Waterbury to Vermont Housing Finance Agency (VHFA)’s Board of Commissioners.

Marie Milord-Ajanma has worked for the Department of Veterans Affairs since 2006. An Army veteran herself, Milord-Ajanma supervises a team of therapists who offer counseling and other support services to combat veterans as they transition from military to civilian life. She holds a master's degree in counseling from Argosy University in Washington, DC. Milord-Ajanma also brings housing expertise to her role on the Board through her work as a Realtor with Hickey & Foster Real Estate, a division of Keller Williams Vermont.

Raymond James is our newest Premiere level sponsor of the 2022 Vermont Statewide Housing Conference. For over 20 years, the conference has drawn hundreds of Vermonters interested in affordable housing together. After cancelling the conference in 2020, we are excited to again host an in-person event on November 16th at the Hilton Burlington. 

On Monday, the Vermont Housing Finance Agency (VHFA) Board of Commissioners awarded $708,000 in Vermont State Affordable Housing Tax Credits for homeownership development projects. Once sold to investors, the credits will yield nearly $3.4 million in equity for home construction costs and energy-efficient manufactured homes. The projects will create new, high-quality homes, which are needed more than ever as low- and moderate-income homebuyers continue to face an extremely challenging housing market.