**[Mortgage Rates Drop to Three-Year Low, Trump's $200 Billion Bond Purchase Plan Shows Initial Results]** Jin10 News, January 16 – Data released by Freddie Mac shows that the average rate for a 30-year fixed-rate mortgage is 6.06%, down from last week's 6.16%, marking the lowest level since September 2022. That was also the last time rates were below 6%. Lowering borrowing costs is a core goal of Trump's plan to improve housing affordability. Following his announcement last week of a $200 billion mortgage bond purchase plan, rates have subsequently declined. Persistently high rates have caused potential buyers and sellers to stay on the sidelines for years. In some ways, the situation for buyers has improved: inventory has slightly increased, home price growth has slowed, and rates have fallen from around 7% in early 2025. However, many housing experts point out that to truly break the market stalemate, mortgage costs must drop significantly. This is because few homeowners with low-rate loans are willing to sell their homes and take on higher rates to purchase a new one.