Trump Tells Fannie, Freddie to Buy $200 Billion of Mortgage Debt

US President Donald Trump is directing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds, a move he cast as his latest effort to bring down housing costs ahead of the November midterm election.

Trump announced the move on Thursday in a social media post, saying “This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable.”

He added that his decision not to sell Fannie Mae and Freddie Mac during his first term allowed them to amass “$200 BILLION DOLLARS IN CASH” and that he was making his ...