Mortgage rates hit 3-year low as Trump instructs Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds
Mortgage rates fell 22 basis points after President Donald Trump instructed mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed bonds, or MBS. Analysts predict that $200 billion of MBS purchases could drive a 25 to 50 basis point drop in mortgage rates. CNBC's Diana Olick breaks it down.
