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The Window Is Closing on HUD's IRR Program

WASHINGTON, DC--Not formally of course. But as interest rates increase this HUD program will no longer be as effective.

By Erika Morphy | erikamorphy | Updated on March 13, 2017

US Housing and Urban Development headquarters. US Housing and Urban Development headquarters.

WASHINGTON, DC–Following the stellar employment numbers the Labor Department released last week, it is all but a foregone conclusion the Federal Reserve will increase in its target range for the Federal Funds rate to 0.75% to one percent this week. Another two rate increases will happen this year, the Fed has said — or possibly more, given the solid economic reports of late.

There are countless implications and story lines to this move. The one we are discussing today is what this could mean for the US Department of Housing and Urban Development’s Interest Rate Reduction (IRR) program.

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