The impact of Trump's 200 billion yuan bond buying plan is evident as mortgage rates fall to a three-year low

According to data from Freddie Mac, the average interest rate for 30-year fixed rate loans has dropped to 6.06%, lower than last week's 6.16% and hitting a new low since September 2022. After Trump announced a $200 billion mortgage bond purchase plan last week, interest rates fell. Long term high interest rates have led both buyers and sellers to wait and see for many years. Despite the increase in inventory and the slowdown in housing price increases, housing experts believe that the cost of mortgage loans needs to be significantly reduced in order to break the market deadlock. Many homeowners are unwilling to sell their homes due to low interest loans, in order to avoid bearing the cost of buying at higher interest rates.