Get all your news in one place.
100's of premium titles.
One app.
Start reading
International Business Times UK
International Business Times UK
Business
Jim Manzon

Mortgage Rates 'Could Fall' as Trump Plans to Buy £200 Billion in Bonds

Donald Trump Bonds Freddie Mac Fannie Mae Daryl Fairweather United States The Associated Press the Federal Reserve
Fed bond purchases led to low refinance rates, causing a 'lock-in effect' as homeowners avoid selling at higher rates. (Credit: Photo by Curtis Adams: Pexels.com)

President Donald Trump announced on social media Thursday that he is instructing the federal government to buy $200 billion in mortgage bonds, a move he claims would help reduce mortgage rates at a time when many Americans are increasingly concerned about soaring home prices.

Trump stated that the two mortgage companies under government conservatorship, Fannie Mae and Freddie Mac, have $200 billion (£149 billion) in cash to facilitate the purchase. 'This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable,' he posted, according to the Associated Press.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
“Is Picking Your Nose Actually Bad For You? Human Anatomy Reveals A Surprisingly Nuanced Answer
Picking your nose might help you breathe more easily, but an anatomy video shows why scratching one particular area may be more dangerous than it appears.
Bored Panda
Bored Panda
Cigarette Smoke Reprogrammed Lung Stem Cells in Lab Models and Helped Steer Which Lung Cancer Type Formed
A Johns Hopkins lab study found that cigarette smoke primed lung stem cells for specific cancer types. What it shows and what it does not prove.
Medical Daily
Medical Daily
That Cute Squishy Toy Contains Water Beads — CPSC Says Stop Using It
A colorful squishy toy that looks like an innocent stress reliever may hide something parents cannot see: expandable water beads. About 37,000 Squishy Dumpling and Crazy Squib Ball toys were recalled on October 1 after regulators determined that their water beads could expand beyond federal limits and create a potentially…
Kids Ain't Cheap
Kids Ain't Cheap
103-year-old World War II veteran still runs a basement bar in Maryland that would be illegal to open today
At 103, World War II veteran Irvin Koch is still behind the counter at Irv’s Basement Bar in Maryland, a watering hole he has run since 1963. But there is a surprising reason his unusual home-based bar has survived for more than six decades: modern zoning rules would make it…
The Economic Times
The Economic Times
Travis Barker hospitalised
Travis Barker has shared photos from hospital, where his wife, Kourtney Kardashian, and daughter, Alabama Barker, were by his side.
BANG Premier
BANG Premier
Man goes to Tim Hortons and sees some Harry Potter-themed donuts. Then he takes a closer look: ‘I was deeply concerned’
Those are definitely not going to the Hogwarts feast!
We Got This Covered
We Got This Covered
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play