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High Mortgage Rates Squeeze U.S. Housing Market Stability

2/5/2026

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Summary

Story summary

Rising shares of U.S. homeowners with high mortgage rates constrain the refinance market and sales.
In 2022, 10% had rates above 5%, rising to over 30% in four years.
Approximately 20% of borrowers now have rates exceeding 6%.
U.S. President Donald Trump’s administration plans to have Fannie Mae and Freddie Mac purchase $200 billion in mortgage-backed bonds, lowering rates.
Last year, home sales totaled 4.06 million, unchanged from 2024.

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Story summary

Rising shares of U.S. homeowners with high mortgage rates constrain the refinance market and sales.
In 2022, 10% had rates above 5%, rising to over 30% in four years.
Approximately 20% of borrowers now have rates exceeding 6%.
U.S. President Donald Trump’s administration plans to have Fannie Mae and Freddie Mac purchase $200 billion in mortgage-backed bonds, lowering rates.
Last year, home sales totaled 4.06 million, unchanged from 2024.