Mortgate Rates Fall to Lowest Level In Three Years As CNN Grieves

Before that: Last week, Trump proposed banning large institutional investors from buying up single-family homes, which they've been doing for years, contributing to the high cost of home ownership.

You will own nothing and love it, they promised.

President Trump on Wednesday said he's "taking steps to ban large institutional investors from buying more single-family homes," linking the move to housing affordability.

Why it matters: Real estate investors -- including both large and small-scale operations -- bought about 1 in 3 single-family homes sold in the second quarter of 2025, according to a report by market intelligence firm C.J. Patrick using BatchData figures.

"People live in homes, not corporations," Trump said on his social media platform, Truth Social.

The impact: Shares of home-owning companies fell sharply Wednesday after Trump's statement.

OpenDoor, an online platform that buys and sells residential real estate, was trading down 11.5%.

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Friction point: Critics say the trend contributes to rising home prices and rent hikes.

Via Larry O'Connor, mortgage rates have fallen to a three-year low from the highs they reached under Biden, making buying houses affordable for many more people.

DeVory Darkins
@devorydarkins

CNN ADMITS Trump's housing affordability plan is working.

"So let's just say you're buying a $500,000 home. You're putting 20% down. A year ago, your monthly payments were almost $2,700 for principal and interest. Now they're around $2,400. Now, that might not sound like that much. It's about $260 difference, but over the course of a year, you're talking about $3,000 less in interest over the course of a loan, it's over $90,000. So that's huge, right? That's less money going to the bank, more for everything else in life. Now, all of this comes after the White House has really started to focus more on this issue of housing affordability."

Larry O'Connor pointed out that the CNN cows had "faces longer than Secretariat" as they were forced to report on the increased affordability of homes, and pooh-poohed the news as they focused on home prices continuing to rise.

Which, you know, they usually do. That's why real estate is such an attractive investment.

But a falling mortgage rate means that the net cost to actually buy a house is now at its lowest level in three years.

In more good news: NEC Director Kevin Hassett expects the economy to have grown at 5% (annualized) in the fourth quarter of 2025, and opines that the real rate of growth would be a point and a half higher but for the Democrat shutdown.

posted by Ace at 03:50 PM

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