What did Donald Trump claim about the economy on 18 Jul 2024? "mortgage rates have quadrupled, and the fact is it doesn't…"
Donald Trump, Republican presidential nominee ·
mortgage rates have quadrupled, and the fact is it doesn't matter what they are because you can't get the money anyway.
Mortgage rates did not quadruple. They went from 2.8 percent in January 2021 to 6.7 percent in June 2024, about 2.4 times higher, and never reached three times the starting level.
The average rate on newly originated U.S. mortgages was 2.8 percent in January 2021 and 6.7 percent in June 2024, about 2.4 times higher. Even its Biden-era peak of 7.2 percent, in November 2023, was less than three times the January 2021 level (Federal Housing Finance Agency, National Mortgage Database aggregate statistics).
Claim vs. the record · Economy
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The claim
- Date
- Where
- Speech accepting the Republican presidential nomination at the Republican National Convention in Milwaukee, Wisconsin.
The record
Primary source (agency data)