"President Donald Trump said Thursday that he is instructing "representatives" to buy $200 billion in mortgage bonds, arguing the move would lower interest rates and monthly housing payments. In a Truth Social post, Trump said the directive was possible because Fannie Mae and Freddie Mac have "$200 billion in cash." He added the bond purchases would help "make the cost of owning a home more affordable.""
"It was not clear who Trump meant by his "representatives," or which entity would carry out the purchases. The White House did not immediately respond to requests for clarification. Trump's proposal for his representatives to buy housing bonds comes on the heels of a Wednesday statement made by the president, in which he said he would ban " large institutional investors" from buying single-family homes in the US."
President Donald Trump instructed "representatives" to purchase $200 billion in mortgage bonds, asserting the move would lower interest rates and monthly housing payments. He stated on Truth Social that the directive was possible because Fannie Mae and Freddie Mac hold "$200 billion in cash." The specific identities of the "representatives" and the entity that would execute the purchases were not made clear. The White House did not immediately answer requests for clarification. The proposal followed a statement that would ban large institutional investors from buying single-family homes. Economists have said such a ban would likely do little to improve nationwide housing affordability, and the market impact of the bond purchases is uncertain.
Read at Business Insider
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