The Connecticut Housing Finance Authority (CHFA) recently announced plans to offer $185 million in bonds in August due to increasing demand from qualified homebuyers.

On Wednesday $145 million in fixed-rate bonds will be sold, and $40 million in variable rate bonds are scheduled for sale on Aug. 24. Proceeds from the sale will be used to finance approximately 750 single-family mortgages and refund prior bonds to take advantage of the low interest rate environment.

CHFA provides mortgage options including a zero point mortgage and a down payment assistance loan for low- to moderate-income borrowers purchasing their first home, or borrowers who have not owned a home in the last three years.

CHFA executive director Karl Kilduff said in a statement that he hasn’t seen rates like these since 2007.

“CHFA’s current interest rate is near a historic low, and it’s fueling interest among first-time homebuyers. The authority has already financed nearly 1,500 mortgages for Connecticut homebuyers this year, an investment of more than $243 million in housing,” Kilduff said in the statement. “As a self-funded, quasi-public agency, CHFA’s bond program acts not only as the vehicle for financing single family mortgages, but also plays a role as one of the state’s economic engines.”

The current below-market interest rates on CHFA mortgages for first-time homebuyers range from 2.75 percent to 3.125 percent (as of July 29).