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President Trump Signs Executive Order to Lower Mortgage Costs
President Trump signed an executive order to lower mortgage costs by reducing insurance and expanding refinancing programs.
President Donald Trump signed an executive order titled "Decreasing Housing Costs for the American People" on October 5, 2026, in Grand Island, Nebraska. The order directs federal agencies to expand cheaper refinancing and tasks the FHFA with a pilot program to proactively cancel mortgage insurance for eligible future loans.
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President Trump Signs Executive Order to Lower Mortgage Costs
The order aims to reduce the financial burden on borrowers facing high interest rates and inflation. It specifically targets the costs associated with mortgage insurance and the fees tied to refinancing existing loans. The President signed the order during a campaign event in Grand Island, Nebraska, on October 5, 2026. The administration argues that these measures will stimulate the housing market by lowering the barrier to entry for new buyers.