Senate Democrats warn: Fannie Mae's IPO plans may push up mortgage rates

According to reports, the high mortgage loan rates have already made many potential homebuyers hesitant. Now some Democrats are concerned that the new measures of the Trump administration may further push up the rates. Senators Elizabeth Warren of Massachusetts, Cory Booker of New Jersey, and Chuck Schumer of New York jointly called on the Trump administration to suspend the stock sale plan of mortgage giants Fannie Mae and Freddie Mac, and requested a study on how this move could increase mortgage loan rates. These senators wrote to William Pulte, the director of the Federal Housing Finance Agency, on Friday morning local time, asking him to focus on housing affordability issues rather than focusing on the renovation of the Fed building or the mortgage loan fraud allegations against Fed Director Lisa Cook.