Yellen announces more small-scale measures to boost housing amid affordability crisis

Treasury Secretary Janet Yellen announced several small-scale measures advertised as an effort to boost the country’s housing supply as families suffer from an explosive rise in home prices and mortgage rates under President Joe Biden.

Yellen will unveil the policies during a speech on Monday in Minneapolis. Among the measures is $100 million over the next three years in a new housing fund, which is designed to support financing for affordable housing.

The Treasury Department said the new funding will support the financing of thousands of affordable housing units.

“Given the scale of the challenge, we must and will continue to do more,” Yellen will say in her speech.