A new executive order seeks to ease mortgage burdens by targeting government-backed loans, directing federal housing regulators to develop a pilot program that would eliminate insurance premiums for borrowers who meet equity thresholds. The move comes as rising interest rates have slowed homebuying activity and increased financial strain for many homeowners. The order also creates additional measures to support affordable housing, though specifics of the broader initiative remain under development. Critics and industry analysts will likely scrutinize whether the plan can effectively offset broader economic pressures on the housing market.
President Trump signed an executive order Thursday aiming to lower mortgage payments as elevated borrowing costs have stifled the housing market. Trump’s order directs Federal Housing Finance Agency (FHFA) Director Bill Pulte to create a pilot program to cancel insurance premiums for government-backed mortgages once a borrower has satisfied equity requirements. The president also established...
