Trump is fed up with Powell, but experts say Americans seeking cheaper interest rates and lower prices shouldn’t be rooting for the Fed chair to be forced into an early exit.

The wait for a more affordable housing market is only getting longer as lingering inflation and tariff uncertainties keep the Fed in monitor mode.

The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.

President Trump argues that the Federal Reserve should cut interest rates to make buying a house cheaper. Former Labor Secretary Robert Reich warns that could backfire.

The Fed’s decision on interest rates affects many types of consumer borrowing costs, from credit cards and mortgages to auto loans.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. A year ago, it was 6.07%, Freddie Mac said.

Fed chair Powell's 'wait and see' approach to interest rates has drawn criticism from the Trump administration, which insists that they be slashed to increase homebuyer demand and relieve the housing market. However, the Fed isn't directly responsible for mortgage rates.