Mortgage rates hit 3-year low as Trump instructs Fannie Mae and Freddie Mac to buy mortgage bonds
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Mortgage rates hit 3-year low as Trump instructs Fannie Mae and Freddie Mac to buy mortgage bonds
Mortgage rates fell 22 basis points after President Donald Trump instructed mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed bonds, or MBS. Analysts predict that $200 billion of MBS purchases could drive a 25 to 50 basis point drop in mortgage rates. CNBC's Diana Olick breaks it down.
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