Public Housing Authority Bonds (PHA)

Municipal bonds issued by local housing authorities to build low-income housing. The bonds are secured by the revenues of the local authority and are further secured by the U.S. government. These bonds have not been issued since 1974 but, since they had original maturities of up to 40 years, they will continue to be available in the secondary market. They are also called NHAs (New Housing Authority Bonds).

Updated on: 24/04/2023