According to the Wall Street Journal, the median monthly mortgage payment for U.S. homebuyers has climbed again after a slight decline last year, now nearing a record high. Meanwhile, rising mortgage rates continue to pose challenges for future homebuyers. This month, the average interest rate on a 30-year fixed-rate mortgage in the U.S. reached 7.4%, the highest level since Trump's second term. The sharp rise in U.S. home prices and mortgage rates over the past few years continues to weigh on Americans. In recent months, homeownership costs such as electricity, homeowners insurance, and property taxes have also increased. Trump has attempted to address rising housing costs, including signing an executive order earlier this year restricting large investors from purchasing single-family homes. This summer, Congress also passed a housing bill encompassing several measures.
