DECREASING HOUSING COSTS FOR THE AMERICAN PEOPLE

Trump Signs Executive Order to Reduce Mortgage Costs and Expand Affordable Housing

President Donald Trump signed an executive order on October 22, 2026, aimed at lowering homeownership costs, reducing mortgage-related expenses, and encouraging innovation in housing construction and financing.

The order directs the Federal Housing Finance Agency to establish a pilot program that proactively identifies eligible borrowers who qualify to cancel mortgage insurance based on their home’s current market value. It also seeks to expand a nationwide program allowing alternative title-risk assessments instead of lender’s title insurance for eligible refinancing transactions, with savings passed on to borrowers.

The order establishes a Task Force on Manufactured Housing Innovation to recommend ways to streamline federal standards, reduce duplicative permitting and inspections, and encourage modern construction methods to increase the supply of affordable factory-built homes. The task force must submit its recommendations within 180 days.

Additionally, the Secretaries of Agriculture and Veterans Affairs are directed to reduce interest rates on eligible single-family home loans made directly by their departments, subject to applicable law and available funding.

The administration says the measures are intended to reduce regulatory barriers, increase competition, and make homeownership more affordable. Many provisions require further implementation, and the actual savings will depend on borrower eligibility and the programs adopted.