Kế hoạch trái phiếu vay mua nhà trị giá 200 tỷ USD được công bố: Chính phủ Mỹ trực tiếp điều hành bơm thanh khoản

【Block Rhythm】January 9 brought major news — the United States launched a $200 billion MBS (mortgage-backed securities) purchase plan. This isn’t the Federal Reserve operating, but the current government taking direct action. The purpose is straightforward: lower mortgage rates and address housing affordability issues.

From public statements, the director of the U.S. Housing Finance Agency, Bill Pulte, confirmed to media that this plan will be executed by Fannie Mae and Freddie Mac, the two major institutions. Interestingly, the entire plan requires no congressional approval and directly utilizes the approximately $200 billion in existing mortgage investment operational capacity of these two institutions.

How does the market view it? Many analysts call this “personal quantitative easing.” This characterization is not unfounded — it is indeed identical in form to the Federal Reserve’s post-2008 financial crisis approach of purchasing MBS to stabilize markets.

But there’s an irony here. The Federal Reserve has already cut rates consecutively with a cumulative reduction of 75 basis points, yet the 30-year fixed mortgage rate remains stuck at 6.16%. This shows that rate cuts alone haven’t solved the fundamental problem. Inflation remains elevated, living costs continue to climb, and homebuying pressure remains enormous for ordinary people.

From an asset market perspective, this $200 billion direct injection wave means a significant shift in liquidity conditions. Whether traditional financial markets or crypto assets, attention must be paid to how this large-scale government intervention affects the overall liquidity environment.