Sep 24, 2026 · 12 min
Mortgage rates cross 7% as Trump and Xi reopen fragile talks
Mortgage Rates Rise Above 7%
The episode connects a renewed U.S.-China diplomatic test with a housing market where higher borrowing costs are colliding with changing buyer needs.
- 1Mortgage rates above 7% are discouraging buyers, but more inventory and shifting household needs are creating a limited opening.
- 2Trump and Xi are projecting warmth while testing whether trade, military communication, and nuclear transparency can advance.
- 3Netanyahu’s U.N. address underscored Israel’s growing diplomatic isolation as delegates protested and Trump withheld a meeting.
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Nicholas Miller explains how higher inventory and changing household needs are drawing buyers back despite mortgage rates above 7%.
The brief
Trump welcomes Xi Jinping at the White House as rising bond yields and mortgage rates set a tense economic backdrop for the state visit.
National security reporter Robbie Gramer describes a warm public tone masking deep U.S.-China tensions, with trade, military communication, and nuclear transparency on the table.
Benjamin Netanyahu defends Israel’s war at the U.N., where protesting delegates and the absence of a Trump meeting signal his worsening international isolation.
Mortgage rates above 7% are squeezing buyers, but Nicholas Miller explains why higher inventory and changing household needs are bringing some back.
The episode closes with markets, Starbucks store closures, and a practical account of vacuum-sealing and bringing French butter home under customs rules.