New Trump orders aim to ease mortgage, construction costs

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President Donald Trump signed two executive orders Friday that aim to make housing more affordable by eliminating some construction regulations and easing rules on mortgages, according to the White House. 

Housing costs, which remain high in the U.S., are a key issue for many voters going into November’s midterm election that determines control of the House and Senate. Here’s what to know: 

What do the executive orders say? 

What we know:

The first order directs federal agencies to find and eliminate regulations that cause ​residential construction delays and increase costs for developers, like environmental reviews or extra permitting. 

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The second order aims to ease regulatory burdens that restrict access to credit for mortgages and make it easier for smaller banks to offer home loans. 

What we don't know:

It’s unclear how quickly federal measures can spark new construction or meaningfully reduce mortgage costs. State and local policies, along with mortgage rates and changes in financial markets, also play a big role in housing costs. 

FILE - Massive 9,000-acre master-planned Silverwood community project on February 23, 2026 in the Summit Valley area of Hesperia, California. (Photo by David McNew/Getty Images)

What they're saying:

"Layers of red tape, slow permitting processes, and costly environmental mandates imposed by progressive policymakers at the state, local, and federal level have made it harder and more expensive to build homes in America – leaving families priced out of the market and the American Dream out of reach," the White House said in a statement. 

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The backstory:

Earlier this year, the Trump administration urged government-backed mortgage firms Fannie Mae and Freddie Mac buy more mortgage-backed securities in an effort to ⁠lower borrowing ​costs, while also looking at how to stop huge investors from purchasing single-family homes, according to Reuters. 

Home prices still high ahead of midterms

Dig deeper:

Affordable housing remains a key political issue ahead of the November midterms, especially for voters under 40, housing analysts say. It’s a problem for both parties as Congress tries to show it's taking action to address it. 

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On Thursday, the Senate passed a broad bipartisan bill that seeks to increase construction and limit institutional ownership of home development. The White House supports the measure, but the bill’s fate in the House is uncertain. 

By the numbers:

According to the National Association of Realtors, the median price of an existing home sold in February was $398,000, nearly five times the median household income.  The average 30-year mortgage rate in February was 6.05%, down from 6.84% a year ago.