Mortgage Costs Surge Under Biden's Presidency

Mortgage costs are changing and it's shaking things up! At a Pennsylvania rally,

Donald Trump claimed his policies slashed mortgage payments by nearly $3,000 a year.

He took aim at Biden for soaring housing costs, alleging that mortgage payments have jumped

over $14,600 during Biden's presidency. A chart he shared shows payments dropping since he returned

to office. Realtor.com confirmed his claims are mostly accurate for new homes,

but median payments haven’t dipped to where they were at the end of Trump’s first term.

During Biden’s tenure, mortgage rates and home prices surged. New home prices shot up over 20%

and existing home prices jumped by 48% from January 2021 to January 2025.