{
  "id": 9616655,
  "title": "US 30-year mortgage rates top 7%, highest in Trump presidency",
  "url": "https://urgent.news/2026/09/24/us-30-year-mortgage-rates-top-7-highest-in-trump-presidency-9616655",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T19:52:08.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/news/world/united-states-canada/article/3368720/us-30-year-mortgage-rates-top-7-highest-trump-presidency"
  },
  "original_language": "en",
  "account": "US mortgage rates have surpassed the 7 percent mark, reaching their highest level since Donald Trump took office again, according to data released on Thursday. This surge is causing significant concern among American voters as they face rising costs of living ahead of the mid-term elections in November. The 30-year fixed-rate mortgage averaged 7.03 percent on Thursday, a notable increase from 6.30 percent in the same period last year. This marks the highest average level since January 16, 2024.\n\nThe affordability of homes has become a major issue for voters, especially with the ongoing war in the Middle East. The conflict, which began after US-Israeli strikes on Iran in late February, has led to a surge in fuel prices as Iran retaliated by blocking a critical waterway for energy transit. The increased costs of regular petrol and diesel, essential for farmers and truckers, are putting pressure on consumers and businesses across the country. Higher diesel costs are expected to further impact the world's largest economy.\n\nIn response to rising inflation, the US central bank raised interest rates for the first time since 2023 this month. The recent increase in mortgage rates, following the Covid-19 pandemic, has further strained the US housing market. Despite a 6.4 percent rise in new home sales in August, as reported by the Commerce Department, the rate remains 2.0 percent below August 2025. The ongoing situation is set to affect prospective homebuyers, exacerbating their financial challenges.",
  "summary": "US mortgage rates have exceeded 7.0 per cent, 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 per cent as of Thursday, a stark uptick from 6.30 per cent the same period a year ago. This is the highest average level since…",
  "key_points": [
    "30-year mortgage rates hit 7%, highest since Trump presidency",
    "Home affordability becomes major voter concern amid Middle East war",
    "US central bank raises interest rates for first time since 2023"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "US 30-year mortgage rates top 7%, highest in Trump presidency",
        "url": "https://urgent.news/2026/09/24/us-30-year-mortgage-rates-top-7-highest-in-trump-presidency",
        "published": "2026-09-24T16:47:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}