For much of the past two years, the U.S. housing market has been stuck in a familiar limbo – rates too high for comfort, prices too inflated for first-time buyers, and affordability stretched thin across income brackets. Last week, the tone shifted.
Mortgage rates dropped sharply after President Donald Trump said he is directing Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities, a signal aimed squarely at easing borrowing costs. The 30-year fixed mortgage slid to 5.99%, a level not seen since early 2023, reviving long-dormant conversations around demand, refinancing, and housing liquidity.
