Trump Promised to Bring Mortgage Rates Down to 3% — Two Years Later, They Are at the Highest Since He Took Office: Economist Says 'I Would Be Extremely Concerned Right Now…'
Mortgage rates remain well above 7%, nearly two years after President Donald Trump said they could fall to 3% or lower. Freddie Mac said Thursday that its Primary Mortgage Market Survey showed the average 30-year fixed-rate mortgage rose to 7.28% as of Oct. 1, up from 7.03% a week earlier and 6.34% a year ago. The 7.28