NEW: Mortgage Rates Climb as Homebuyers Back Out Of Deals At Highest Rate EVER Arrow

In Donald Trump's economy, the housing market is in shambles. US mortgage rates climbed again, and last month, more home purchase agreements were canceled than in any December on record - a staggering 40,000 cancellations, representing 16.3% of all agreements.

Trump has made housing more expensive than ever. Houses are sitting on the market for growing periods of time because of high prices. On top of that, household debt is at an all-time high.

In response,DNC Rapid Response Director Kendall Witmer released the following statement:

"Donald Trump has made the American dream of owning a home nearly impossible for everyday Americans. Despite his promises to lower costs on 'Day One,' Trump and Vance have done absolutely nothing to actually make housing more affordable for working families. Americans are sick of Trump focusing on the wrong priorities when his housing market is benefiting billionaire corporations and wealthy investors, while everyday Americans get left behind."

Trump's unhinged pursuit of Greenland is causing home mortgage rates to spike, worsening an already challenging real estate market. On top of that, Trump's tariffs on building materials for homes weigh down an already weak housing sector, resulting in nearly 450,000 fewer new homes built from 2026 through 2030. But like the rest of Trump's economy, billionaire corporations and wealthy investors are thriving while everyday Americans get left in the dust.

It's no wonder most Americans rank the cost of housing as one of their top concerns, and 93% of Americans say housing costs are too high, as two-thirds of voters now believe a middle-class lifestyle is out of reach for most people.