Trump's Homebuying Renaissance: Bill Pulte Speaks Out
Interest rates on mortgages drop for a second consecutive week, as per Freddie Mac.
President Donald Trump's vision for a revitalized homeownership dream is taking shape, according to Federal Housing Finance Agency Director Bill Pulte, in an appearance on 'Making Money'.
For the second week running, mortgage rates experienced a decrease, as reported by mortgage lender Freddie Mac on a Thursday statement. Freddie Mac's most recent Primary Mortgage Market Survey revealed that the typical 30-year fixed mortgage rate dropped to 6.76% from last week's rate of 6.81%. Compared to a year ago, the average rate on a 30-year home loan has fallen significantly, from 7.22%.
Sam Khater, Freddie Mac's chief economist, commented: "Recent weeks have observed a decrease in rates for the 30-year fixed-rate mortgage, going even lower than the first-quarter average of 6.83%."
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The 15-year fixed mortgage rate also dipped ever so slightly, going from 5.94% last week to 5.92%. A year ago, the 15-year fixed mortgage rate averaged 6.47%.
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Since 2020, buyers have struggled with affordability issues and supply problems in the housing market, making it tough for first-time buyers to take their first step onto the property ladder.
"America's housing market has been locked in a near-standstill for two years, as 30-year lows in transactions have become the norm," Realtor.com CEO Damian Eales mentioned during a recent 'Mornings with Maria' segment. "This situation is primarily due to high interest rates. Most American mortgages, in fact 70% of them, have interest rates below 5%. The prevailing rates are currently closer to 6.8%, and there's a possibility they might climb higher shortly. Sellers are reluctant to sell because they will have to refinance at a much higher cost."
Realtor.com's analysis reveals a supply gap of 3.8 million homes, based on a report published in March 2023.
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Eales expressed optimism that the various elements of the economy would align to facilitate a reduction in mortgage rates.
Article Contribution by Fox Business' Aislinn Murphy.
[1] - Mortgage rates peaked to approximately 7.04% in late 2024 before the slight decline in early 2025. [Source: Freddie Mac]
[3] - 4.5% YoY price growth in the U.S. housing market as of Q4 2024. [Source: Realtor.com]
[4] - Economic uncertainty led to weaker demand nationwide in 2025. [Source: National Association of Realtors]
[5] - Regional disparities in the housing market continue due to persistent price growth and supply shortages in 2025. [Source: Realtor.com]
- The typical 30-year fixed mortgage rate, as reported by Freddie Mac, decreased to 6.76% this week from last week's rate of 6.81%.
- Compared to a year ago, the average rate on a 30-year home loan has fallen significantly, from 7.22%.
- According to Sam Khater, Freddie Mac's chief economist, recent weeks have observed a decrease in rates for the 30-year fixed-rate mortgage, going even lower than the first-quarter average of 6.83%.
- The 15-year fixed mortgage rate also dipped ever so slightly, going from 5.94% last week to 5.92%.
- Bill Pulte, the Federal Housing Finance Agency Director, stated in an appearance on 'Making Money' that President Donald Trump's vision for a revitalized homeownership dream is taking shape.
- Realtor.com's CEO Damian Eales mentioned during a recent 'Mornings with Maria' segment that America's housing market has been locked in a near-standstill for two years, with 30-year lows in transactions becoming the norm.
- Eales expressed optimism that the various elements of the economy would align to facilitate a reduction in mortgage rates, as reported by Fox Business' Aislinn Murphy in an article contribution.
