No, Trump Can’t Order the Fed to Cut Rates — Here’s Why That Matters

President Donald Trump is once again turning up the heat on the Federal Reserve, urging Chair Jerome Powell to cut interest rates more aggressively. His promise? To bring back the ultra-low mortgage rates that defined earlier eras. But there’s a catch: the president can’t actually control the Fed. 🔑 Key Points: Trump publicly criticized Powell for not lowering rates fast enough, citing rate cuts by the European Central Bank. He declared he would “demand” rate reductions—but the Fed’s independence means his demands have no legal weight. Even if rates are cut, mortgage rates may not follow in kind. In a recent Truth Social post, Trump said the Fed should have acted “long ago.” He pointed to seven ECB rate cuts over the past year, contrasting them with the Fed’s three in 2024. And with inflation concerns fueled by tariffs, Powell’s latest comments suggest more caution than haste. 🧩 Tariffs, Inflation, and the Fed’s Dilemma During a speech at The Economic Club…

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No, Trump Can’t Order the Fed to Cut Rates — Here’s Why That Matters
New Jersey Best Realtor Richard Choi

Why More Homeowners Are Investing in Wood Floors — A Timeless Upgrade That Pays Off

In the world of interior design, every surface counts—and today, floors are taking center stage. While ceilings were once called the "fifth wall," floors have now earned the nickname of the "sixth wall," offering homeowners a canvas for style, texture, and timeless elegance. Among the many flooring options available, wood continues to dominate the wish lists of homeowners and buyers alike. It’s not just a matter of aesthetics—wood floors offer flexibility in design, excellent return on investment, and long-term durability that few other materials can match. The Appeal of Wood Flooring Wood flooring remains a symbol of quality and value in today’s housing market. Its versatility is one of its greatest strengths. Homeowners can choose from a wide variety of wood species, colors, construction types, plank widths, and finishes. Whether renovating a historic property or building new, wood fits effortlessly into a variety of architectural styles. Beyond its beauty, wood flooring continues to deliver strong financial value. Recent remodeling reports show…

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Why More Homeowners Are Investing in Wood Floors — A Timeless Upgrade That Pays Off
New Jersey Best Realtor Richard Choi

Homebuyers rush to riskier loans, as tariff turmoil pushes interest rates higher

Real Estate Homebuyers rush to riskier loans, as tariff turmoil pushes interest rates higher Published Wed, Apr 16 2025 CNBC Mortgage rates jumped to the highest level since February last week, dampening overall demand and sending homebuyers in search of riskier loans with lower rates. Total mortgage application volume fell 8.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.81% from 6.61%, with points decreasing to 0.62 from 0.63, including the origination fee, for loans with a 20% down payment. Applications for a mortgage to purchase a home dropped 5% for the week and were 13% higher than the same week one year ago. Demand from buyers may be higher than a year ago, but there is 30% more active inventory on the market than there was last year at this time, according to Realtor.com.…

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Homebuyers rush to riskier loans, as tariff turmoil pushes interest rates higher
New Jersey Best Realtor Richard Choi