US 30-year mortgage rates top 7%, highest in Trump presidency
WASHINGTON — U.S. mortgage rates have exceeded 7.0 percent, data showed Thursday, reaching their highest level since Donald Trump returned to the presidency as voters grapple with high costs of living ahead of midterm elections. The popular 30-year fixed-rate mortgage averaged 7.03 percent as of Thursday, a stark uptick from 6.30 percent the same period a year ago. This is the highest average…
U.S. mortgage rates have surpassed the 7% threshold, hitting their highest point since Donald Trump's return to the presidency, according to data released on Thursday. The 30-year fixed-rate mortgage averaged 7.03% for the week, a significant jump from 6.30% at the same time last year. This marks the highest average level since January 16 of last year, just prior to Trump's inauguration.
The soaring rates pose affordability challenges for American voters as they approach the crucial midterm elections in November. The war in the Middle East, triggered by U.S.-Israel strikes on Iran in late February, has led to a surge in fuel prices as Iran retaliated by closing a crucial waterway for energy transport. Rising gasoline and diesel costs, vital for farmers and truckers, are putting a strain on consumers and businesses nationwide, potentially impacting the world's largest economy.
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- US 30-year mortgage rates top 7%, highest in Trump presidency koreatimes.co.kr
