Sec. Bessent: President Trump Is Laser-Focused on the Housing Market and Things Have Gotten Better

EXCERPT:

BESSENT: “President Trump is laser-focused on the housing market and things have gotten better. Last month we hit a three-year low in mortgage rates. the Fed, subsequent to, I believe, the appearance you were talking about, it was lower rates twice. The 10-year yield is down. And importantly, maybe Director Pulte mentioned, the spread between the Treasury bond and the mortgage rates has compressed, so that is helpful. We saw the affordability or the amount of income needed to buy the average house come down about 4 percent. And nationally, we’re seeing rents come down. The American dream is home ownership, but also the affordability is getting rental prices down so that people can save for a down payment.”