President Trump signed an executive order aimed at lowering housing costs ahead of the midterm elections, as inflation and affordability are among voters' top concerns. The order directs the FHFA director to launch a pilot program to proactively cancel mortgage insurance premiums for borrowers who meet equity requirements based on current market value, and to expand cheaper alternatives to title insurance and reduce refinancing closing costs. The Departments of Veterans Affairs and Agriculture must cut interest rates on single-family home loans, and a multiagency task force will be created to lower building costs and raise the quality of manufactured homes eligible for federal programs. The move comes as the housing market slows and lending costs rise, with inflation climbing to 3.7% last month while wage gains have been largely flat this year. An NBC News Decision Desk poll found that 31% of U.S. adults named the economy as their top concern.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 759.85 |
| Change that session | -0.54% |
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Related news
- Trump signs executive order lowering housing costs
President Trump signed an executive order aimed at lowering housing costs ahead of the midterm elections, as inflation and affordability weigh on voters. The order directs several agencies to reduce mortgage costs, offer cheaper alternatives to title insurance, and support the development of manufactured housing. The FHFA director is to create a pilot program to proactively cancel mortgage insurance premiums for borrowers who meet equity requirements, while the Veterans Affairs and Agriculture departments must cut interest rates on their single-family home loans. A multiagency task force will also look at lowering building costs and improving the quality of manufactured homes eligible for federal housing programs. The move comes as the housing market slows and lending costs rise, with inflation climbing to 3.7% last month and wage gains largely flat this year.
- Housing Market Gets Hit as Mortgage Rates Skyrocket Ahead of Midterm
Pending home sales, which track signed contracts for existing homes, fell 7.3% from August and 11.3% from a year earlier in September, according to the National Association of Realtors. Mortgage rates climbed from about 6.8% at the start of September to 7.6% by month-end, and Freddie Mac's average 30-year rate reached 7.40% in the week ending October 8, its highest since November 2023. The median existing-home price hit $417,500, up 1.3% year on year, while 20.8% of listings had a price cut, the highest share for any month since October 2022. The NAHB's October builder sentiment index fell to its lowest reading in 14 years. With the November 3 midterms approaching, affordability has become a central issue for voters.
- Trump signs executive order lowering housing costs
President Trump signed an executive order aimed at lowering housing costs ahead of the midterm elections, where inflation and affordability are key voter concerns. The order directs agencies to reduce mortgage costs, offer cheaper alternatives to title insurance, and support manufactured housing. The FHFA director must create a pilot program to proactively cancel mortgage insurance premiums for borrowers who meet equity requirements based on current market value. The Departments of Veterans Affairs and Agriculture must cut interest rates on their single-family home loans, and a multiagency task force will work on lowering building costs and improving manufactured homes. The move comes as the housing market slows and lending costs rise, with inflation at 3.7% last month and wage gains largely flat this year.
- Trump signs executive order lowering housing costs
President Trump signed an executive order aimed at lowering housing costs ahead of the midterm elections, as inflation and affordability weigh on voters. The order directs agencies to reduce mortgage costs, expand access to cheaper alternatives to title insurance, and support manufactured housing. The FHFA is to set up a pilot program to proactively cancel mortgage insurance premiums for eligible borrowers, while the Departments of Veterans Affairs and Agriculture are to lower interest rates on their single-family home loans. The order also creates a multiagency task force on manufactured homes. The move comes as the housing market slows and lending costs rise, with inflation at 3.7% last month and an NBC News Decision Desk poll showing 31% of U.S. adults naming the economy as their top concern.
- Trump signs executive order lowering housing costs
President Trump signed an executive order on Thursday to lower housing costs ahead of the midterm elections, where inflation and affordability are key voter concerns. It directs the FHFA to create a pilot program to proactively cancel mortgage insurance premiums for borrowers who meet equity requirements, expand cheaper alternatives to title insurance, and reduce refinancing closing costs. The Departments of Veterans Affairs and Agriculture are told to cut interest rates on their single-family home loans, and a multiagency task force will look at lowering the cost of building and improving manufactured homes. The order comes as the housing market slows and lending costs rise, with inflation at 3.7% last month and wages largely flat this year. In an NBC News Decision Desk poll, 31% of U.S. adults named the economy as their top concern; the survey covered 19,135 adults online from Sept. 28 to Oct. 12, with a margin of error of ±2.6 percentage points.
- Wall Street dives ahead of weekend , Dow dips more than 600 points
U.S. stocks fell again on Friday as investors feared a renewed breakout in the Israel-U.S. war on Iran, which is now expected after the midterm elections. The S&P 500 closed at 7,623.63, down 0.52%, the Dow Jones Industrial Average dropped 653.95 points (1.24%) to 52,214.03, and the Nasdaq Composite slipped 0.21% to 25,955.34. Industrial stocks bore the brunt of the selling, while tech stocks posted modest losses. The U.S. dollar strengthened against most major currencies except the Australian and Canadian dollars, with EUR-USD at 1.1195, while most Canadian and European markets closed lower and Asian indices were mixed.
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