Secretary Turner Recaps Major Wins from National Homeownership Month, Underscores Need for Rate Cuts

July 27, 2025 / Source: HUD

WASHINGTON – During National Homeownership Month, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner spearheaded regulatory rollbacks and strategic initiatives to expand access to the American Dream of homeownership.

As Secretary Turner stated, “We’re slashing regulations at HUD to unleash the private sector to build and get government out of the way. The Federal Reserve needs to do its part and cut interest rates. Mortgage rates will follow.”

Secretary Turner kicked off National Homeownership Month by ringing the Closing Bell at the New York Stock Exchange. In his remarks, Secretary Turner spoke about the important role of free enterprise and market-driven solutions in expanding access to affordable housing, referencing former President Calvin Coolidge: “‘The chief business of America is business.’ And what better way to celebrate that than to be here at the New York Stock Exchange and there’s no greater time to celebrate that than National Homeownership Month.”

Watch the Closing Bell ceremony here.