Trump Hit by New Cost of Living Blow

REUTERS President Donald Trump faces fresh fallout from the fast-rising cost of living. The average interest rate on a 30-year fixed mortgage rose to 6.51 percent this week, the highest since August last year, according to Freddie Mac. The figure also increased from 6.36 percent last week, marking the sharpest weekly increase since April 2025, when Trump first unveiled his market-crashing tariffs. The increase spells a massive difference for American homebuyers during a busy time of year for home sales. Those with a $2,500 monthly budget and a 20 percent down payment, for example, can afford to buy a $400,000 home at a 6-percent mortgage rate. At 6.5 percent, that buyer can only afford a $384,000 home, according to The Wall Street Journal . Read more at The Daily Beast.

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