Trump Signs Executive Order to Lower Housing Costs: Mortgage Insurance to Be Canceled Once Equity Is Met, USDA and VA Directed to Lower Loan Rates
WASHINGTON — President Donald J. Trump on October 22 signed an Executive Order to lower the costs of single-family homeownership and mortgages and promote innovation throughout the housing market, according to a White House fact sheet released the same day.
First, the Order directs the Director of the Federal Housing Finance Agency (FHFA) to create a pilot program to cancel borrowers' mortgage insurance premiums proactively once they have satisfied their equity requirements based on the current market value. The White House said this will eliminate a large monthly expense for qualifying Americans across the country.
Second, the Order directs the FHFA Director to reduce homeowners' refinancing costs by expanding the FHFA's title insurance waiver pilot into a permanent program, allowing more borrowers to use cost-friendly alternatives to title insurance and reducing the closing costs of refinancing and monthly expenses associated with homeownership.
Third, the Order establishes the Task Force on Manufactured Housing Innovation, which the White House said will increase the quality of and lower the cost of building a home by facilitating the use of modern manufacturing methods in the production of factory-built housing eligible for federal housing programs.
Fourth, the Order directs the Secretary of Agriculture and the Secretary of Veterans Affairs to reduce interest rates on single-family home loans made by their respective departments. The fact sheet did not specify the size of the rate reductions or when they would take effect.
The fact sheet also listed earlier housing actions: in January 2026, President Trump signed an Executive Order preventing large institutional investors from buying single-family homes that could otherwise be purchased by families, and called on Congress to codify those policies; the same month, he directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to further drive down borrowing costs; and in March 2026, he signed an Executive Order reducing regulatory burdens that the White House said drove up mortgage costs. It also said the Working Families Tax Cuts doubled the investment limit for Fannie Mae and Freddie Mac's Low Income Housing Tax Credit, boosting housing supply in rural and underserved communities.
Published by GSM · USA (original Chinese edition)
Photo: GSM 行政令统一模板（美国总统行政令）
