Trump orders his representatives to buy $200 billion dollars in mortgage bonds
WASHINGTON, Jan 8 (Reuters) - U.S. President Donald Trump said on Thursday he is ordering his representatives to buy $200 billion dollars in mortgage bonds, adding that the step aimed to bring down housing costs.
"Because I chose not to sell Fannie Mae and Freddie Mac in my First Term ... it is now worth many times that amount — AN ABSOLUTE FORTUNE — and has $200 BILLION DOLLARS IN CASH" Trump wrote in a post on Truth Social.
"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," Trump wrote on social media."
(Reporting by Kanishka Singh and Bhargav Acharya; Editing by Ryan Patrick Jones)
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