Donald Trump has announced that he is directing the federal government to purchase $200 billion in mortgage bonds, a move he claims will significantly lower mortgage rates and ease the burden of homeownership.
The announcement, made on social media on Thursday, comes as the White House seeks to address growing voter anxieties over housing affordability in the run-up to November's midterm elections. The funds for this substantial purchase are expected to come from Fannie Mae and Freddie Mac, the two mortgage companies currently operating under government conservatorship, which reportedly hold $200 billion in cash reserves.
