President Donald Trump early Saturday highlighted lower mortgage rates under his term compared with former President Joe Biden.
In a graphic posted to his Truth Social account, Trump touted a 5% mortgage rate compared with 6%, 7%, and 8% under Biden.
It was unclear where Trump was pulling the figures.
Mortgage rates were near historic lows when President Joe Biden took office in January 2021, averaging about 2.7% for a 30-year fixed loan, but they climbed sharply over the next two years as inflation surged and the Federal Reserve aggressively raised interest rates, peaking above 7% in 2023 — the highest levels in more than two decades.
Rates eased somewhat in 2024 but remained elevated.
Since Trump returned to office in January 2025, mortgage rates have drifted modestly lower, hovering around the low-6% range in early 2026.
Economists note that while the White House can influence economic conditions, mortgage rates are largely driven by inflation trends, bond markets, and Federal Reserve policy rather than any single president’s actions.
"Joe Biden’s inflation crisis crushed the dream of homeownership for millions of Americans — but President Trump is bringing it back," White House press secretary Karoline Leavitt told Fox News.
"Thanks to the President’s successful economic policies, unnecessary red tape is being cut at a historic pace, borrowing costs are easing, and income growth is outpacing home price gains — finally making housing more affordable again."
Leavitt added: "President Trump knows America is strongest when it’s a nation of owners, not renters, and he is determined to unlock that opportunity for as many American families as possible."
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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