Biden Administration Weighs Move to Trim Mortgage Costs as Home Prices Rise

WASHINGTON—The Biden administration is weighing a transfer to trim mortgage prices for first-time and lower-income buyers, a bid to increase affordability when common home prices are at an all-time high.

President Biden’s affordability push has to this point largely targeted on steps to ease constraints on the supply of new homes, a major driver of a speedy run-up in residence costs in recent times. Steps to ease prices on sure debtors might assist modestly however extra significant steps to handle affordability are probably to come solely from elevated provide, housing consultants mentioned.