Overview
- FHFA Director Bill Pulte said the White House has set aside the 50-year mortgage idea, describing housing policy as focused on other priorities.
- Economists warned ultra-long loans would slow equity building and increase total interest paid, while current qualified mortgage rules bar 40- and 50-year fixed loans.
- According to a Politico report, the White House is drafting an executive order to let homebuyers use 401(k) or 529 funds for down payments without penalties, though officials have not confirmed details.
- The reported order may also seek to block large institutional investors from purchasing single-family homes, an approach Trump recently promoted on social media.
- Separately, Trump directed Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities, beginning with a $3 billion purchase that coincided with mortgage rates briefly dipping below 6% on Friday.