The Cost to Housing of Donald Trump

July 23, 2025 | President Trump says he wants a 1% rate on fed funds, but the noise coming from the White House and various federal agencies regarding Federal Reserve Board Chairman Jerome Powell has actually pushed up mortgage rates and widened spreads between 30-year mortgages and Treasury debt. How much has the Trump Administration hurt the US residential housing sector since the start of 2025?  Let us assess the damage so far.

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