A recent LendingTree survey reveals that a significant number of Americans planning to move in 2025 are doing so due to the current political climate. Forty-three percent of respondents cited a desire to live in a place that aligns with their political ideals, while 41% linked their decision to the recent presidential election. The survey also highlights other influential factors, including rising mortgage rates and economic uncertainties.
A significant portion of Americans planning to move in 2025 are doing so due to the current political climate, according to a LendingTree survey. Of the 40% of respondents who hope to move this year, nearly 50% cited political reasons as a driving force behind their decision. Specifically, 43% desired to relocate to a place that better aligned with their political ideals and values, while 41% pointed to the recent presidential election as a contributing factor.
Beyond political motivations, other factors are influencing Americans' housing decisions. The average rate on a 30-year mortgage has risen to slightly above 7%, the highest level in eight months. This increase, coupled with a five-week upward trend, reflects a climb in bond yields that lenders utilize to determine mortgage prices. The elevated mortgage rates, which can add hundreds of dollars to monthly payments, have dampened buyer enthusiasm, prolonging the national home sales slump that began in 2022.The Federal Reserve's signal in December 2024 that it anticipates lowering its benchmark rate only twice this year, down from four projected cuts in September 2024, has contributed to rising interest rates. This decision stems from inflation remaining above the central bank's 2% target, despite declining from its mid-2022 peak. Economists express concern that President-elect Donald Trump's economic policies, particularly his plan to significantly increase tariffs on imports, could exacerbate inflationary pressures. Several economists predict the average rate on a 30-year mortgage will remain above 6% this year, with some projections reaching as high as 6.8%
MOVING POLITICAL CLIMATE MORTGAGE RATES HOUSING MARKET USA
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2024 Breaks Global Temperature Records: Climate Change Drives Intense Heat WavesThe year 2024 witnessed record-breaking global temperatures, fueled by climate change and intensifying heat waves. Scientists are investigating the contributing factors, including fossil fuel burning, El Niño patterns, and volcanic activity.
Read more »
Insurance Crisis: Climate Risk Drives Premiums Soar and Policies DropThe insurance market is facing a crisis due to rising climate risks, with premiums skyrocketing and policies being dropped at an alarming rate. A recent analysis revealed that 1.9 million insurance contracts were not renewed, reflecting the growing challenges insurers face in managing these risks.
Read more »
Voices: In Utah, the need for accessible housing is just as great as affordable housing“It’s time we prioritize affordable, accessible housing so anyone, regardless of their physical ability or age, can live with dignity,” write Kristy Chambers and Andrew Riggle.
Read more »
Housing advocates look to multigenerational living as a possible solution to Anchorage housing crunchFinding affordable housing in Anchorage is a challenge, and housing experts are looking for solutions. One idea is making it easier for people to live in multigenerational homes.
Read more »
Housing and Housing Finance Outlook for 2025Housing and Housing Finance Outlook for 2025
Read more »
‘They should be helping people pay rent, not having Christmas parties’: Houstonians await answers on HHA fundsAmidst a housing crisis affecting thousands, the Houston Housing Authority faces scrutiny over its spending practices.
Read more »