Trump Tells Buyers Priced Out of Housing to Wait a Little Longer.

President Trump told prospective homebuyers to "wait a little longer" for lower mortgage rates and reiterated that lower interest rates would ease housing costs; the administration has ordered Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds and is urging Congress on related legislation.

President Trump urged prospective homebuyers to "wait a little longer" for mortgage rates to decline and repeated similar language from his recent State of the Union address. His remarks acknowledged limits on federal powers to directly change housing prices while expressing optimism about lower interest rates under his Fed nominee, Kevin Warsh. The administration has taken steps including an order for Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds and is pushing Congress on legislation related to investors in single-family homes. What happened: - The president told potential buyers to "save a little money, wait a little longer" for lower mortgage rates. - He said lower interest rates would help address housing costs, a point he made in the State of the Union. - The White House ordered Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds. - Freddie reported the 30-year fixed mortgage rate fell to about 5.98% this week. Summary: The remarks are a public appeal for patience from buyers and reflect the administration's limited tools for directly lowering home prices. The administration has moved on several fronts but whether policy and market shifts will produce lower mortgage rates remains tied to Federal Reserve actions and market responses; Undetermined at this time.