Bloomberg Surveillance · Friday, July 31, 2026
Mortgage rates have climbed to 6.66%, a one-year high, making homeownership significantly more expensive. This rise intensifies concerns about the housing affordability crisis, with limited legislative solutions emerging from Washington.
“The mortgage is now at six point six six percent. That's a one year high. We're not at seven percent yet, but it does make home ownership a lot more expensive. And David, there's a lot of talk about the affordability crisis. Has DC come up with any solutions that will I don't know, resonate with voters before the midterm elections?”
“I mean, there was this housing build that the president liked until he didn't like, and so I think that there's been some lip service to it. But we're at a point now as we approach the midterm, so I think the prospects there being any kind of real landmark legislation coming together seems pretty unlikely.”