A bill to provide that the interest rate on federally insured mortgages under section 203(b) of the National Housing Act shall be the rate charged for uninsured mortgages.

[AI summary unavailable — showing source text] Amends the National Housing Act to require that mortgages insured under such Act by the Secretary of Housing and Urban Development bear interest at the rate charged by the mortgagee for non-insured mortgages. Eliminates the requirement that the Secretary consult with the Administrator of Veterans' Affairs to determine the interest rate necessary to meet the mortgage market for guaranteed or insured loans to veterans.…