Trump signs order to cut mortgage insurance and refinance costs
President Trump signed an executive order on Thursday meant to lower mortgage payments, including a pilot program to end insurance premiums on some government-backed mortgages.
President Trump signed an executive order on Thursday aimed at lowering mortgage payments, The Hill reports.
The order directs Federal Housing Finance Agency Director Bill Pulte to set up a pilot program. The program would cancel insurance premiums on government-backed mortgages once a borrower meets equity requirements, according to The Hill.
CNBC says the order targets mortgage insurance and refinance costs. The Hill's report says it also includes other measures, but the excerpt provided does not say what they are.
The Hill says high borrowing costs have weighed on the housing market.
Reported by
- The HillTrump signs executive order geared at lowering housing, mortgage costsThu, Oct 22, 5:52 PM EDT
- CNBCTrump's executive order targets mortgage insurance, refinance costs. What it means for borrowersFri, Oct 23, 3:53 PM EDT
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.