This week marked VHFA’s offering of the lowest interest rates in the agency’s history for Vermont homebuyers. Rates as low as 3.0% became available on 30-year mortgages made through VHFA’s programs, available exclusively through its statewide network of participating lenders.

“This rate helps us extend the dream of homeownership to more people than ever before,” said VHFA Executive Director Maura Collins. “Every quarter point we can lower interest rates puts the monthly payment on a typical Vermont home within the range affordable for more potential first-time home buyers.

Vermont Housing Finance Agency (VHFA) is proud to announce that it has signed the Vermont Equal Pay Compact through the Vermont Commission on Women. The compact is a pledge by Vermont employers to show their commitment to closing the wage gap. The Vermont Commission on Women offers signers support and strategies for creating an equitable workforce.

“VHFA is excited to show its support for building fairer workplaces,” explained Steve Gronlund, VHFA’s Director of Human Resources and Administration. “Not only is it the right thing to do, it will also encourage the Agency in its ongoing effort to recruit and retain a highly qualified and motivated workforce,” Gronlund continued.

The median Vermont primary home sold for $229,000 in 2019, according to Property Transfer Tax records, a 6.5% increase from 2018. This is the largest single year increase in median home prices since before the Recession, and a substantial increase over recent years’ home price growth. Since 2014, Vermont median home prices have increased by an average of 2.7% per year.

VHFA Executive Director Maura Collins was recently interviewed by Anne Wallace Allen of VTDigger.  The interview discussed why housing continues to be a major challenge for Vermont, and how the state and local communities can help make housing more affordable.

Excerpts from the interview are reprinted below:

VTDigger: Why is housing such a problem in so many areas? Is it worse in Vermont?