Senate Democrats warn that Fannie Mae and Freddie Mac's IPO plan could push up mortgage rates
2025-08-29 12:32:25
High mortgage rates have deterred many would-be home buyers, according to the Wall Street Journal. Now some Democrats are concerned that the Trump administration's new move could push rates even higher. Senators Elizabeth Warren of Massachusetts, Cory Booker of New Jersey and Chuck Schumer of New York have joined forces to call on the Trump administration to halt plans to sell shares in mortgage giants Fannie Mae and Freddie Mac and to study how the move could push up mortgage rates. The senators sent a letter to William Pulte, the director of the Federal Housing Finance Agency, on Friday morning asking him to focus on housing affordability rather than on issues such as renovations to the Fed building or mortgage fraud allegations against Lisa Cook, the Fed governor.
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