According to Calabria, there's an understanding on the Republican side that if you deal with the underlying inflationary issues, that will help with housing affordability. By fighting price pressures, he expects a Trump administration to deliver lower mortgage rates. But don't get too excited: We're not going back to 3% mortgage rates, he added.
Calabria also sees a chance for a long-planned project of releasing the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from federal conservatorship to proceed during a Trump administration. 'You don't need Congress to do it... There's a road map; it's all doable,' he said.
When asked how each administration's approach to the economy would affect the mortgage industry, Calabria emphasized the importance of the overall economy, particularly focusing on inflation and jobs. He suggested that Trump would be less inflationary based on past experiences.
Mark Calabria spoke about his expectations from a future Trump administration, the role of the Consumer Financial Protection Bureau (CFPB), and the economic as well as housing policies of the Biden administration in a recent interview with HousingWire. The interview was conducted before an assassination attempt on Trump.
#housing-market #trump-administration #mortgage-rates #government-sponsored-enterprises #economic-policies
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