[Senate Democrats Warn: Fannie Mae and Freddie Mac IPO Plan Could Raise Mortgage Rates] According to a report by Golden Finance, citing the Wall Street Journal, high mortgage rates have already deterred many potential homebuyers. Now, some Democrats are concerned that a new initiative by the Trump administration could further drive up rates. Massachusetts Senator Elizabeth Warren, New Jersey Senator Cory Booker, and New York Senator Chuck Schumer jointly called on the Trump administration to halt plans to sell shares of mortgage giants Fannie Mae and Freddie Mac, urging a study on how this move might increase mortgage rates. These senators sent a letter on Friday morning local time to Federal Housing Finance Agency Director William Pulte, asking him to focus on housing affordability issues rather than matters such as the Federal Reserve building renovation or mortgage fraud allegations against Federal Reserve Governor Lisa Cook.