Lates News

Heavyweight Democratic senators in the United States Senate are urging the Trump administration to postpone its plans to sell shares of Fannie Mae and Freddie Mac in order to study the potential impact on mortgage rates. In a letter addressed to Federal Housing Finance Agency (FHFA) Director Bill Pulte on Friday, a group of senators including Elizabeth Warren from Massachusetts called on the FHFA to focus on reducing housing costs. "You can avoid increasing household costs and weakening the broader housing market stability by pausing any actions to privatize the two companies and instead studying the potential impact on the mortgage market," the letter stated. The letter was jointly signed by Warren, Senate Minority Leader and New York Senator Chuck Schumer, and New Jersey Senator Cory Booker.