#美国贸易赤字状况 Recently, a major move has attracted the attention of the financial world— a top national leader has ordered a direct repurchase of $200 billion in mortgage-backed securities (MBS), which is quite interesting.

In simple terms, the government bypasses the central bank and uses its own funds to buy MBS. It sounds like QE, but it's not exactly the same—it's more like an "administrative targeted strike." The goal is straightforward: to lower mortgage rates and ease the borrowing pressure on the public.

How is it done? Government-supported agencies like Fannie Mae and Freddie Mac step in, directly purchasing MBS from the market. As a result, demand for MBS increases, prices rise, and yields decline. Consequently, stocks related to home loans also surge. The market interprets this as a clear signal of government support for the housing market.

From a supportive perspective, this move is indeed effective—it can release liquidity and give a boost to the mortgage market without changing the Federal Reserve's interest rate policy. Lenders and prospective homebuyers can breathe a sigh of relief in the short term.

However, there are also many objections. Some point out that this is merely a band-aid—housing supply is fundamentally insufficient, and lowering interest rates may stimulate more people to buy homes, potentially causing housing prices to soar even higher. Moreover, the government’s direct intervention in market pricing mechanisms may not be healthy in the long run.

The key question is: can this truly solve the problem? If housing supply continues to lag behind, even lower interest rates might exacerbate the upward pressure on prices. Additionally, this move has pushed Fannie Mae and Freddie Mac into the spotlight, and with an election year approaching, it inevitably raises concerns about political motives.

Overall, this is a targeted financial policy experiment. The short-term market response is quite positive, but the long-term effects depend on whether housing supply can keep up and whether market structures can be improved. It’s worth paying attention to the subsequent trends in housing prices and liquidity changes.