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Senate Democrats Warn Trump’s Fannie and Freddie IPO Plan Could Elevate Mortgage Rates
Senate Democrats Warn Trump’s Fannie and Freddie IPO Plan Could Elevate Mortgage Rates
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BTCCSquare news:
Senators Elizabeth Warren, Cory Booker, and Chuck Schumer have urged the TRUMP administration to halt its plan to privatize Fannie Mae and Freddie Mac, citing concerns over potential mortgage rate increases. The lawmakers argue that removing government backing could make borrowing more expensive for the housing giants, ultimately passing costs to consumers.
The 30-year fixed-rate mortgage currently sits at 6.56%, a ten-month low but still historically elevated. Privatization WOULD eliminate the implicit government guarantee that allows Fannie and Freddie to borrow at favorable rates, potentially pushing housing finance costs higher amid already challenging affordability conditions.
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