The average 30-year mortgage rate was 6.06% through Wednesday, down from 6.16% last week, according to Freddie Mac data. That's the lowest level since September 2022, when mortgage rates initially broke 6% following a prolonged period of ultralow rates.

President Donald Trump's suggestion that Fannie Mae and Freddie Mac purchase mortgage-backed securities is ill-advised, many experts think.

Under Bill Pulte, Fannie Mae and Freddie Mac have pulled away from efforts to help low-income people buy homes.

U.S. mortgage rates have fallen sharply following President Donald Trump’s order to purchase $200 billion in mortgage bonds — a sweeping intervention aimed at lowering borrowing costs and easing the affordability crunch.

President Trump is proposing two new policies to help make buying a home more affordable for Americans facing soaring prices and high mortgage rates. CBS News MoneyWatch reporter Megan Cerullo has more.

Mortgage rates dropped markedly at the end of last week, causing a huge jump in demand to refinance and a smaller surge in demand from home buyers.

A key ally of Donald Trump and the man behind the administration’s pitch for 50-year mortgages says the president has now ditched the idea. Federal Housing Finance Agency Director Bill Pulte told reporters that “We have other priorities.

Since the 2008 financial crisis, institutional investors like Blackstone and JPMorgan Chase have been buying up available housing stock in cities across the country. President Trump wants to ban the practice.