President Trump has pledged to lower housing costs, but a major obstacle remains: elevated mortgage rates. This week, mortgage rates ticked downward slightly, though they remain at historically high levels, creating a barrier for many potential homebuyers. In the first week of Trump’s second term, these rates fluctuated minimally before stabilizing—a trend that has drawn attention from analysts and market observers.
According to Freddie Mac data, average 30-year mortgage rates fell to 6.96% on January 23, marking the first decline in six weeks after remaining stagnant for an extended period. This slight improvement is attributed to a perception that Trump may be more dovish on trade issues than previously feared, potentially signaling greater flexibility or reduced protectionist policies.
As markets continue to assess the economic impact of Trump’s policies, the housing market remains a key area of focus. Whether this recent shift in mortgage rates will pave the way for meaningful progress on President Trump’s promise to lower costs is uncertain, but it offers a glimmer of hope for those seeking affordable homeownership opportunities.
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Source: https://www.marketwatch.com/story/trump-has-vowed-lower-housing-prices-mortgage-rates-stand-in-the-way-7035415b