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Following Donald Trump's election, mortgage rates have surged to 6.79%, raising concerns for homebuyers. Analysts predict that Trump's proposed economic policies could lead to higher inflation and interest rates, complicating the housing market for first-time buyers and current homeowners alike. This situation reflects ongoing economic uncertainties.
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As of November 13, 2024, mortgage rates in the U.S. have surged to 6.79%, the highest since July, driven by inflation concerns following Donald Trump's election victory. In the UK, rising rates are also impacting the housing market, prompting borrowers to act quickly amid economic uncertainty and higher borrowing costs.
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As of November 2024, U.S. renters are grappling with significant rent increases, with the median rent now at $1,634, a 20% rise since pre-pandemic levels. Economic factors, including inflation and high interest rates, are causing consumers to hesitate on major purchases, leading to a notable 'election shopping slump.'
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Elon Musk's appointment as co-head of a new Department of Government Efficiency under President-elect Donald Trump raises concerns about conflicts of interest and the influence of billionaires in politics. This dynamic mirrors historical ties between business magnates and political leaders, with potential implications for regulatory policies and government spending.