Recently, major news has come from the United States. On January 9th, Trump announced a significant move—directly launching a $200 billion Mortgage-Backed Securities (MBS) purchase program. In simple terms, it’s an executive order to lower mortgage rates and ease housing cost pressures.

The key point of this move is that it bypasses the Federal Reserve and is directly executed by Fannie Mae and Freddie Mac. Under the existing agreement framework, these two agencies still have about $200 billion of capacity for MBS investments, so this money can be mobilized without Congressional approval. It’s somewhat similar to the Federal Reserve’s operations after the 2008 financial crisis, but this time it’s directly ordered by the President.

The background is quite interesting. The Federal Reserve has already cut interest rates by 75 basis points, yet the 30-year fixed mortgage rate in the US remains high at 6.16%, keeping housing affordability under pressure. In an environment where inflation has not fully cooled and living costs continue to rise, this plan is widely interpreted as a “personal version of QE”—directly injecting liquidity to stimulate the market.

From a financial market perspective, what does this mean? A large influx of liquidity into the financial system typically has spillover effects on risk assets. Especially during a loose monetary policy cycle, digital assets often receive additional attention. Although this time the focus is on the traditional real estate market, the overall improvement in liquidity conditions usually drives capital to seek other investment opportunities.