Treasury Secretary Janet L. Yellen to Announce New Housing Efforts as Part of Biden Administration Push to Lower Housing Costs

*In a speech in Minneapolis, Secretary Yellen is announcing new funding sources for housing production, urges further action by Congress, states, and localities *WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen is delivering remarks on housing policy and announcing new efforts by the Treasury Department using its existing authorities to increase the supply of housing, as part of the Biden Administration’s push to lower costs. In announcing these new initiatives, Secretary Yellen will note that “[G]iven the scale of the challenge, we must and will continue to do more.”The efforts Secretary Yellen is announcing include:A new Treasury program administered by the CDFI Fund that will provide an additional $100 million over the next three years to support the financing of affordable housing;An effort to provide greater interest rate predictability to state and local housing finance agencies borrowing from the Federal Financing Bank to support new