How Trump's economic agenda could affect mortgage rates in 2025
CBSN
President-elect Donald Trump has promised to lower prices for Americans, but his economic policies may not help one embattled part of the economy: the housing market.
Mortgage rates continue to hover near a 20-year high, while house hunters face near record high home prices. The Federal Reserve's two rate cuts, in September and November, haven't trickled through to mortgages, which instead have climbed during the past month and are again hovering close to 7%.
That's because mortgage rates are based on several factors beyond the Fed's benchmark rate, including the strength of the U.S. economy and changes in the yield for the U.S. 10-year Treasury bond. The latter surged after Trump's November 5 electoral victory on concerns that his policies, including stiff tariffs on U.S. imports, big tax cuts for individuals and businesses, and a crackdown on undocumented immigrants could drive up inflation.
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