Trump signs an executive order to cut US mortgage costs, ordering a pilot to cancel insurance premiums on government-backed loans

FHFA Director Bill Pulte must create a pilot scheme cancelling insurance premiums on government-backed mortgages once borrowers meet equity requirements. President Donald Trump also set up a task force to slash home construction costs. Pending US home sales fell 7.3 percent from August to September. They are down 11.3 percent on last year, realtors say.