Pierre Yared to Newsmax: Mortgage Rate Relief Expected

Americans looking to buy a home could see additional mortgage rate relief as inflation continues to ease and the Federal Reserve moves toward lowering interest rates, Pierre Yared, White House Council of Economic Advisers acting chair said on Newsmax Tuesday.

He told Newsmax's "National Report" that mortgage rates ultimately track the Federal Reserve's policy rate and should decline further as economic conditions stabilize.

"As inflation continues to normalize and as the Fed continues to decrease interest rates, we should anticipate additional relief for families when it comes to mortgages," Yared said.

According to recent housing data cited during the interview, the average 30-year fixed mortgage rate currently sits just above 6%, while 15-year fixed rates remain in the mid-5% range. While rates have been slow to move in recent weeks, Yared said the broader trend points toward gradual improvement for buyers.

He argued that inflationary pressures surged under the Biden administration, forcing the Federal Reserve to aggressively raise rates.

With inflation now retreating, he said the central bank has room to ease policy without jeopardizing economic stability.

"It's natural that given this inflation is back down to historic ranges, that the Fed brings interest rates back down to historic levels," Yared said.

Yared also pointed to what he described as economic gains since President Donald Trump returned to office, saying mortgage rates have already declined from earlier highs, putting more money back in the pockets of prospective homeowners.

The acting CEA chair acknowledged that recent government shutdown disruptions complicated economic data collection, including employment data typically used by the Federal Reserve when setting policy.

He said those gaps may have contributed to slower movement in rates in the short term.

Despite near-term uncertainty, Yared said the administration remains confident that continued normalization of inflation and steady economic growth will improve housing affordability heading into 2026.

"We're moving in the right direction," Yared said, adding that easing inflation and lower rates would help restore confidence for families considering one of the largest financial decisions they will make.

Yared also emphasized that a recent uptick in the national unemployment rate to 4.6% reflects renewed confidence in the economy rather than underlying weakness, pointing to an increase in Americans reentering the labor force.

He said the headline number does not tell the full story of the latest jobs report because "when you look under the hood, that's entirely driven by reentry into the labor force — more people want to participate in President Trump's economy."

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