The Trump White House is touting positive economic data, showcasing the stunning turnaround the U.S. has seen economically since President Donald Trump took the helm in January.
White House Press Secretary Karoline Leavitt highlighted many of the recent victories during a press conference this week — from mortgage rates dropping to the gas prices falling.
“Positive economic data continues to pour in. Brand new polling shows that Americans’ faith in the economy and the direction of the nation is back on track and shooting even higher. Home ownership is more affordable with mortgage rates dropping to a three-year low for new home buyers,” she said, noting that this represents “a 250 decline in your monthly mortgage payment, or nearly 3,000 a year.”
CBS News reported on this drop, citing data from Mortgage News Daily, which found that “30-year fixed mortgage rates have dropped to an average of 6.13%.”
“That’s the lowest level in three years, and represents a steep decline from the 7% (or higher) rates that defined much of the housing market over the past two years,” the report reads.
Leavitt added that Trump wants this to continue and hopes to see mortgage rates decline to a record low, “just like they did in his first term.”
She also pointed to Trump’s commitment to energy dominance, leading to gas prices falling, resulting in Americans spending the
smallest share of their disposable income on gasoline since 2005.
A recent report from the Energy Information Administration (EIA) shows that “less than 2% of people’s personal disposable income will be spent on gasoline in 2025, down from an average 2.4% over the previous decade and the lowest share since 2005, excluding 2020,” as Fox Business detailed.
“Additionally, the annual cost to own and operate a new vehicle is down by nearly six percent over the last year,” Leavitt revealed. “Americans are earning more and they are spending more than ever before.”
“After inflation outpaced for 26 straight months under Joe Biden, real wages have increased nearly every month since President Trump took office, with wages for blue collar workers rising at the fastest rate in six decades,” she continued, noting that retail sales are up over five percent from last year.
Further, the stock market is “booming,” and retirement accounts continue to do well, as Dow, S&P 500, and Nasdaq all reach record highs.
Trump is also continuing to focus on investment in the U.S., with the White House now touting nearly $9 trillion in such investment.
The website tracking U.S. and foreign investments currently sits at $8.8 trillion and includes a $1.4 trillion investment from the UAE in the manufacturing and industry sector, $600 billion from Apple in the technology and AI sector, and $500 billion from NVIDIA in the technology and AI sector as well.
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