Did Donald Trump ‘play off’ Affordability?
He ain’t paying a mortgage on his primary residence, eh?
Mortgage rates climbed to their highest levels in more than a year, as recent turmoil in the bond market continued to spread, putting pressure on consumers already struggling with persistent inflation and compounding the housing crisis in the United States.
The 30-year fixed-rate mortgage, the most common home loan in the United States, hit 6.71 percent, the mortgage finance giant Freddie Mac said Thursday, up from 6.66 percent the week before and the highest since July 2025.
The U.S. housing market has essentially been stuck for the past several years, squeezed between high prices and high mortgage rates. Jonathan Miller, a real estate appraiser and consultant, said mortgage rates had ascended at their steepest pace in history. Rates are now double what they were during the Covid-19 pandemic.
Many homeowners at that time were able to secure mortgage rates below 3 percent, which unlock enormous reductions on their monthly payments. Moving to a new home could double their mortgage rates, a significant jump in expenses. Homeowners are staying put much longer than they otherwise might because they want to keep their low rates…..
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