Topline
President Donald Trump said Thursday he will launch a $200 billion mortgage bond purchase to try and lower mortgage rates, calling it a step toward tackling the problem of economic “affordability”—which he previously had dismissed as a Democratic-created “hoax.”
Key Facts
Trump claimed the program will drive mortgage rates and monthly payments down, calling it “one of many steps in restoring Affordability.”
Bill Pulte, Trump’s director of federal housing finance agency, told the Financial Times that the purchases would be made by Fannie Mae and Freddie Mac, and would not require congressional approval.
Following the White House’s usual strategy, Pulte framed the housing crisis as a problem caused by former President Joe Biden.
“We’re going to be using the full force of Fannie to reverse the damage that Biden did these last four years,” Pulte told the Financial Times, “including, but not limited to, strategic and large purchases of mortgage bonds.”
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