The Federal Reserve has decided to keep interest rates steady at 7%, despite pressure from President Trump to lower them. This decision has caused mortgage rates to remain stagnant, with potential implications for the housing market.

President Trump has been vocal in his calls for the Federal Reserve to cut interest rates in an effort to stimulate economic growth. However, the Fed has opted to maintain the status quo, citing concerns over inflation and the overall health of the economy.

As a result, mortgage rates have remained at 7%, leaving potential homebuyers and refinancers in a holding pattern. This decision could have wide-ranging effects on the housing market, with some experts predicting a slowdown in activity as a result.

While the Fed's decision may not be what President Trump had hoped for, it is a reflection of the central bank's commitment to maintaining stability in the economy. As interest rates continue to play a crucial role in shaping consumer behavior, all eyes will be on the Federal Reserve in the coming months to see if any changes are on the horizon.