00:00It's Benzinga, bringing Wall Street to Main Street
00:02President Donald Trump said Thursday that he is instructing his representatives to buy $200
00:07billion in mortgage bonds, claiming the move would drive mortgage rates and monthly payments lower.
00:13In a Truth Social post, Trump said the directive was based on Fannie Mae and Freddie Mac being
00:17flush with cash. It was unclear who Trump meant by his representatives, and neither the White
00:22House nor the Federal Housing Finance Agency immediately responded to CNBC's request for
00:27clarification. FHFA Director Bill Pulte later said Fannie and Freddie would execute the plan.
00:33Trump said the move would restore affordability and criticize the Biden administration's handling
00:38of housing. He said Fannie and Freddie hold $200 billion in cash. The 10-year Treasury yield
00:43ticked slightly lower after the comments. For all things money, visit Benzinga.com.
