According to CoinMeta, the average interest rate for 30-year fixed-rate mortgages in the United States has risen for the fourth consecutive week, reaching 6.95%, up from 6.76% a week ago. This is the first time this rate has reached this level since January 2025, and it represents a significant increase from 6.26% a year ago. After the Federal Reserve raised interest rates by 25 basis points, the market realized that borrowing costs are not likely to decline significantly in the short term, and the rising cost of homeownership has become one of the core issues in the upcoming mid-term elections in November. Intercontinental Exchange estimates that if a typical family purchases a home with an average price of $440,000, their mortgage payments will account for 31% of their median household income, the highest level since July 2025. At the same time, the confidence index for residential builders has plummeted this month, falling to its lowest level in over a year.