PANews reported on January 9th that US President Trump announced he would instruct representatives to purchase $200 billion in mortgage-backed securities (MBS) jointly by Fannie Mae and Freddie Mac, with the goal of lowering mortgage rates and reducing monthly payments. Bill Pulte, president of the Housing Finance Agency, stated that the move does not require congressional approval. Under existing agreements between the two agencies and the US Treasury, each agency can add up to approximately $100 billion in MBS. The current average interest rate for a 30-year fixed mortgage is approximately 6.16%, and the Federal Reserve cut interest rates by a total of 75 basis points last year.