Commercial Real Estate Leader Discusses Trump’s Impact and Mortgage Rates
Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler recently shared his thoughts on President Donald Trump’s impact on commercial real estate and how Americans are handling 7% mortgage rates. Mortgage rates have been stubbornly high, with the average rate on the 30-year fixed mortgage hovering between 6% and 7% for most of the last two and a half years.
According to Freddie Mac’s latest Primary Mortgage Market Survey, the average rate on the 30-year fixed mortgage fell slightly to 6.95% this week, down from 6.96% last week. However, the average rate is still higher than the 6.63% recorded a year ago.
Sam Khater, Freddie Mac’s chief economist, notes that the persistent supply shortage and higher rates have created affordability hurdles for many homebuyers, causing a significant number of them to remain on the sidelines. The average rate on the 15-year fixed mortgage also fell to 6.12%, down from 6.16% last week, but remains higher than the 5.94% recorded a year ago.
