Trump signs executive order decreasing housing costs for Americans
The order is aimed at bringing down housing costs for American taxpayers who are looking to buy single-family homes.
Donald Trump en Kansas/ Kent NISHIMURA / AFP)
President Trump signed an executive order Thursday aimed at bringing down housing costs for American taxpayers who are looking to buy single-family homes.
The executive order directs Federal Housing Finance Agency Director Bill Pulte to create a pilot program that would cancel a borrower's mortgage insurance premium proactively once they satisfied their equity requirements based on the current market value.
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The order also establishes the Task Force on Manufactured Housing Innovation, which is expected to come up with ways to increase the quality and lower the cost of building a home by facilitating the use of modern manufacturing methods.
It additionally directs Agriculture Secretary Brooke Rollins and Veterans Affairs Secretary Doug Collins to lower interest rates on single-family home loans issued by their respective departments.
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