Trump signed an executive order directing federal housing agencies to reduce certain housing costs
Treasury proposed barring large institutional investors from buying single-family homes, with specific exceptions, under a provision of the 21st Century ROAD to Housing Act, which became law without Trump’s signature. The proposal follows Trump’s housing-cost order; its mortgage-insurance cancellation pilot would cover only future loans. Pending sales fell 7.3% month over month as mortgage rates topped 7%.
More context
Treasury's proposed rule would bar large institutional investors from buying single-family homes, with specified exceptions. The department says the measure is intended to make homeownership more affordable. The rule would carry out one of the more contentious provisions in the 21st Century ROAD to Housing Act, which took effect earlier this year without Trump signing it.
Trump's executive order addresses financing expenses and manufactured housing. Its FHFA mortgage-insurance cancellation pilot would apply only to loans made after launch, so it would not immediately help existing borrowers. The order also seeks to make a title-insurance waiver pilot for refinancings an ongoing program and establishes an HUD-FHFA task force on manufactured housing. Pending home sales fell 7.3% from August to September and were 11.3% lower year over year, according to NAR. The 30-year fixed mortgage rate reached 7.32% this week.
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Reporting
- Insurance Journal — Trump Signs Executive Order Aimed at Taming Housing Costs - Insurance Journal
- Politico — Trump signs housing affordability executive order - Politico
- consumeraffairs.com — Trump targets mortgage fees and factory-built homes in housing affordability push - ConsumerAffairs
- The Hill — Trump signs executive order geared at lowering housing, mortgage costs - The Hill
- Realtor.com — Trump Launches Task Force on Manufactured Homes and Orders Affordability Reforms - Realtor.com
- Newsweek — Trump Unveils Two Major Housing Moves That Could Save Americans ‘Thousands’ - Newsweek
Verifier’s note
Multiple publishers report that Trump signed a housing-affordability executive order on October 22, directing federal agencies to pursue measures including lower mortgage or refinancing costs and mortgage-insurance changes. The reports are within the stated timeframe and do not contradict the central claim.