Host Charles Payne, from “Make Money,” recently pondered whether President Trump’s trade war might push the U.S. towards isolation.
On Thursday, Freddie Mac released its latest research findings.
The data showed that the average rate for 30-year fixed mortgages has climbed to 6.81%, up from 6.76% the prior week. A year ago, this rate was at 7.02%.
“The 30-year fixed-rate mortgage has now stayed below the 7% mark for 17 weeks,” noted Sam Carter, Freddie Mac’s chief economist. “Stable mortgage fees, along with a moderate increase in inventory—up 18% from last year—are drawing more buyers into the housing market.”
The average rate for a 15-year fixed mortgage also increased, jumping to 5.92% from 5.89% last week. This was lower than the previous year’s 6.28% average.
The ongoing challenge remains one of affordability and housing supply, as many Americans continue searching for homes.
Recent reports from the National Association of Realtors (NAR) and Realtor.com indicate that while nationwide housing stocks are improving compared to last year, “access to affordable homes remains out of reach for many buyers.”
In the report, it was noted that middle-income buyers, those earning about $75,000 annually, have seen their share of affordable homes rise slightly, from 20.8% in March 2024 to 21.2% this year.
Nadia Evangelou, senior economist at NAR, pointed out that simply increasing the number of homes won’t fix the affordability issue. “We need to ensure homes are sensibly priced,” she remarked. “This involves adjusting local zoning laws, promoting smaller homes, assisting builders, and improving access to funding options like down payment aid.”
