Trump to Unveil Plan Allowing Homebuyers to Use 401(k) Funds for Down Payments

WASHINGTON—President Donald Trump will unveil a plan next week that would allow Americans to withdraw funds from their 401(k) accounts to use for a home down payment. White House National Economic Council Director Kevin Hassett announced the plan during an interview with Fox Business on Jan. 16, adding that the details of the proposal are still being finalized. He said Trump will announce the final plan in Davos next week. “The Fed lifted interest rates so much that mortgage rates went through the roof,” Hassett said. He pointed out that the average monthly payment for a typical family buying a home has nearly doubled, and the down payment required had risen from about $15,000 to around $32,000 during the Biden administration....