• Housing Market News
  • Trump directs agencies to reduce red tape related to mortgages and homebuilding.

    U.S. President Donald Trump signed two presidential orders on Friday aimed at improving housing affordability, a key concern for voters ahead of the November midterm elections.

    According to information released by the White House, Trump signed an executive order aimed at eliminating unnecessary regulatory burdens that delay housing construction and increase housing costs, and another executive order aimed at easing regulations related to mortgage costs and housing loans.

    While housing prices are hovering near record levels and mortgage interest rates remain high, housing affordability has become an increasingly pressing political issue, making homeownership unattainable for many first-time buyers.

    The White House tried to emphasize this issue as part of its economic agenda as Trump heads into midterm elections where his Republican Party will defend a narrow majority in both chambers of Congress.

    A decree directs federal agencies to identify and eliminate regulations that delay housing construction and increase costs for developers. The directive calls for the review of permits and environmental conditions that can slow down projects or increase construction costs, with the aim of accelerating the supply of new housing.

    A second order, focusing on mortgage loans, instructs regulators to review rules that the administration says prevent small lenders from issuing home loans and restrict access to credit.

    The White House said this effort aims to lower borrowing costs and make it easier for creditworthy Americans to buy homes.

    These orders build on other steps Trump has taken to address housing costs since taking office.

    Earlier this year, the administration was exploring ways to limit single-family home purchases by large institutional investors, which critics said were constraining supply for potential buyers, while pushing government-backed mortgage companies Fannie Mae and Freddie Mac to expand their purchases of mortgage-backed securities in an effort to lower borrowing costs.

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