White House says Trump signs executive order on housing costs

A draft of the order would direct Fannie Mae and Freddie Mac to cut mortgage financing costs, Scotsman Guide reports.

The White House says Trump has signed an executive order on housing costs. It says the order is meant to decrease housing costs for Americans. Scotsman Guide reports that a draft, titled "Decreasing Housing Costs for the American People," has 5 sections. The draft would direct Fannie Mae, Freddie Mac and several federal agencies to cut mortgage financing costs. It covers loan-level pricing adjustments, title insurance waivers, mortgage insurance and manufactured housing.

HousingWire reports that the draft would direct the U.S. Department of Agriculture and the Department of Veterans Affairs to use their existing authority to lower interest rates on single-family loans. It would also create a federal task force on manufactured housing innovation and make mortgage insurance easier to cancel. HousingWire reports that it covers refinance closing costs too.

Semafor reports that administration officials are divided over the order. FHFA Director Bill Pulte is pushing for a signing this week, while others urge caution. Housing groups have warned that some of the proposed changes could raise prices. The midterm elections are less than 2 weeks away.

On Oct. 22, the Treasury Department issued proposed regulations to carry out Section 1001 of the ROAD to Housing Act. Treasury says the rules would make homeownership more affordable.

The order is a standalone domestic policy step. It has no direct tie to the diesel, Iran, Fed or AI stories that have run through recent White House coverage. The administration has repeatedly floated measures to lower consumer costs, from diesel export controls to state-level fuel tax pressure, so the order fits a broader pattern rather than a new approach. For buyers and owners, what matters is the mechanics: which rules and subsidies it changes. Its effect on housing supply and prices depends on those details.