New Delhi, Oct. 24 -- US President Donald Trump's latest executive order promises to lower mortgage costs for millions of Americans ahead of the November 3 midterm elections. However, questions remain over how much American homeowners could save and whether Trump's proposed measures will provide meaningful relief as housing affordability continues to deteriorate.

The order, titled Decreasing Housing Costs for the American People, aims to help eligible homebuyers stop paying mortgage insurance sooner while making it cheaper for homeowners to refinance their existing loans.

Federal Housing Finance Agency (FHFA) director Bill Pulte claimed on X on Thursday that "millions of Americans will save thousands and thousands of dollars."

However,...