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.
