Mortgage rates rose above the 7% mark this week, the highest level recorded during any point of President Trump’s two terms in office. The increase adds pressure to an already sluggish housing market, where many prospective buyers are waiting for rates to fall before committing to a purchase.
National housing market under strain
Analysts note that the rise follows a series of modest rate hikes by the Federal Reserve aimed at curbing inflation. While the move is intended to stabilize prices, it also raises borrowing costs for homebuyers, potentially slowing the pace of new home sales.
Industry experts point out that the current rate is the first time since January 2025 that mortgage rates have breached the 7% threshold. “We’re seeing a clear signal that financing a home is becoming more expensive,” said a senior economist at a major bank. “That could deter many would‑be buyers, especially first‑time families looking to enter the market.”
Broader economic context
The Trump administration has emphasized policies aimed at fostering economic growth, including tax incentives for businesses and deregulation efforts that they argue support job creation and wage growth. Supporters contend that a stronger job market can eventually offset higher borrowing costs by increasing household incomes.
Critics, however, warn that rising rates may exacerbate affordability challenges for lower‑income families, a concern echoed by several consumer‑advocacy groups. They argue that without additional measures to increase housing supply, higher rates could deepen the divide between those who can afford a home and those who cannot.
Other headlines from the day
In unrelated news, a rare video captured by a longtime aid worker offers a glimpse into daily life inside an isolated nation, showing both famine‑era hardship and moments of unexpected resilience.
Scientists continue to explore the connection between gut signals and brain function, with recent research suggesting that more information may travel between the two than previously thought.
Entertainment fans can look forward to a new series reboot that draws inspiration from the Trump era, while “House of the Dragon” star Emma D’Arcy recently made headlines for blending a ballgown’s theatricality with trousers on the red carpet.
On public transit in East Asia, a video shows a confrontation in which a woman repeatedly kicked an elderly man attempting to help her from a priority seat, highlighting ongoing challenges with passenger behavior.
Finally, a high‑school science teacher posed a dinosaur‑footprint quiz, with the correct answer being Tyrannosaurus rex, sparking interest in paleontology among students.
Original reporting: El Paso News (HLL/CB) — read the source article.
