Trump orders $200B in mortgage purchases to support housing market

By Mucahithan Avcioglu

ISTANBUL (AA) - US President Donald Trump ordered his representatives to purchase $200 billion worth of mortgage bonds on Friday to support the housing market.

"Biden ignored the Housing Market, and instead was immersed with High Crime, Open Borders, runaway INFLATION, the Afghanistan Disaster, and a Military that he left in Chaos and Confusion. Everything was broken, but I, as President of the United States, have already fixed it! Now, I am giving special attention to the Housing Market," Trump wrote on his Truth Social platform.

Trump recalled that he chose not to sell finance companies Fannie Mae and Freddie Mac, which played a vital role in the housing finance system, in his first term as president, calling it a "great" decision and one that went against expert advice.

Highlighting that these institutions are now worth many times more than they were then and have $200 billion in cash, Trump said: "Because of this, I am instructing my Representatives to BUY $200 BILLION DOLLARS IN MORTGAGE BONDS. This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable."

"It is one of my many steps in restoring Affordability, something that the Biden Administration absolutely destroyed. We are bringing back the AMERICAN DREAM that was destroyed by the last Administration," he added.