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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. Homeowners are slowly coming to terms with the likely reality that ultralow 3% and 4% mortgage rates from the ZIRP erai.e., the Zero Interest Rate Policy following the Great Financial Crisis and during the COVID-19 pandemicarent coming back anytime soon, and that their next mortgage rate will likely be higher than their last. At least, thats what the TurboHome-ResiClub Housing Sentiment Survey just found. To conduct the survey, ResiClub partnered with TurboHome, a digital platform that uses both expert local agents and AI tools to help homebuyers save on transaction costs. In total, 423 U.S. adults participated in the TurboHome-ResiClub Housing Sentiment Survey between July 2 and July 23, 2025. Among respondents, 80% own their primary home, 17% rent their primary residence, and 3% live with family or friends (and pay no rent). Note: Responses are rounded to whole numbers, so totals may add up to slightly more or less than 100%. Lets take a look at the full results. Housing sentiment is shiftinga little We asked U.S. homeownersexcluding those who said they “plan to never sell” or “would pay all cash” for their next homewhat the highest mortgage rate they would accept on their next home purchase is. In Q1 2025, when we ran the first-ever ResiClub Housing Sentiment Survey, only 41% of homeowners surveyed by us said theyd accept a mortgage rate up to 6.0% on their next purchase. In Q3 2025, 52% of homeowners told us theyd accept a mortgage rate up to 6.0% on their next purchase. Slowly, homeowners are coming to terms with the fact that their next mortgage rate will be higher than their last one. Overall, theres still low optimism that the sub-6.00% threshold will be unlocked in the next 12 months, with 72% of homeowners saying they expect the average 30-year fixed mortgage rate to be above 6.00% for the next year. A majority (55%) say they expect home prices in their local market to either stay flat or decline over the next 12 months. Thats up 20 percentage points from Q1 2025, when just 35% expected prices to remain flat or fall. Still, that doesnt mean homeowners are outright bearish. Only 16% anticipate home prices in their area will drop by 4% or more over the next 12 months. Homebuyers today are digitally savvy Among homeowners we surveyed, 73% say they located their most recent property themselves, while the other 27% gave credit to their real estate agent. In the Zillow and Realtor.com era, this figure makes sense. That independence is also showing up in attitudes toward technology: 81% of homeowners say theyd be likely to use a digital tool to draft a home offer, with nearly half saying theyd be very likely to do so. Satisfaction with the last agent used The majority of homeowners (77%) that we surveyed felt that their last real estate agent provided valuable services. The majority of homeowners (72%) that we surveyed felt that the commission paid to the agent they most recently worked with was justified. While most homeowners felt their last real estate agent earned the commission they were paid (see chart above), a majority believe that agents are generally overcompensated today (see chart below). So, why did a subtle shift in phrasing lead to such a different response? One reason could be the lens through which homeowners view the two questions. When reflecting on their last transaction, many were likely in the buyer roleand in the U.S., its typically the seller who covers both agents’ commissions. That cost may have felt abstract or in the rearview mirror, which could soften perceptions. But when asked about agent compensation today, homeowners may be thinking ahead to their next transactionthis time potentially as the sellerwhen those commissions could directly reduce their net proceeds. The housing sector is fairly familiar with discount brokerages. The consumer is still learning. How prospective homebuyers feel about agent compensation structure
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E-Commerce
President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%. The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes. Trump’s moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president. As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi. Trump had previewed for reporters on Tuesday that the tariffs would be coming, saying the U.S. had a meeting with Russia on Wednesday as the Trump administration tries to end the war in Ukraine. Were going to see what happens,” Trump said about his tariff plans. “Well make that determination at that time. The Indian government on Wednesday called the additional tariffs unfortunate.” We reiterate that these actions are unfair, unjustified and unreasonable, Foreign Ministry spokesman Randhir Jaiswal said in a statement, adding that India would take all actions necessary to protect its interests. Jaiswal said India has already made its stand clear that the countrys imports were based on market factors and were part of an overall objective of ensuring energy security for its 1.4 billion people. Ajay Srivastava, a former Indian trade official, said the latest tariff places the country among the most heavily taxed U.S. trading partners and far above rivals such as China, Vietnam and Bangladesh. The tariffs are expected to make Indian goods far costlier with the potential to cut exports by around 40%-50% to the U.S., he said. Srivastava said Trump’s decision was hypocritical because China bought more Russian oil than India did last year. Washington avoids targeting Beijing because of Chinas leverage over critical minerals which are vital for U.S. defense and technology, he said. In 2024, the U.S. ran a $45.8 billion trade deficit in goods with India, meaning America imported more from India than it exported, according to the U.S. Census Bureau. American consumers and businesses buy pharmaceutical drugs, precious stones and textiles and apparel from India, among other goods. At the worlds largest country, India represented a way for the U.S. to counter China’s influence in Asia. But India has not supported the Ukraine-related sanctions by the U.S. and its allies on Moscow even as India’s leaders have maintained that they want peace. The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products. The planned tariffs on India contradict past efforts by the Biden administration and other nations in the Group of Seven leading industrialized nations that encouraged India to buy cheap Russian oil through a price cap imposed in 2022. The nations collectively capped Russian oil a $60 per barrel at a time when prices in the market were meaningfully higher, The intent was to deprive the Kremlin of revenue to fund its war in Ukraine, forcing the Russian government either to sell its oil at a discount or divert money for a costly alternative shipping network. The price cap was rolled out to equal parts skepticism and hopefulness that the policy would stave off Russian President Vladimir Putins invasion of Ukraine. The cap has required shipping and insurance companies to refuse to handle oil shipments above the cap, though Russia has been able to evade the cap by shipping oil on a shadow fleet of old vessels using insurers and trading companies located in countries that are not enforcing sanctions. But oil prices have fallen with a barrel trading on Wednesday morning at $65.84, up 1% on the day. Josh Boak, Rajesh Roy, and Fatima Hussein, Associated Press
Category:
E-Commerce
President Donald Trump on Wednesday is expected to celebrate at the White House a commitment by Apple to increase its U.S. investments by an additional $100 billion over the next four years. Todays announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect Americas economic and national security,” White House spokeswoman Taylor Rogers said. Apple had previously said it intended to invest $500 billion domestically, a figure it will now increase to $600 billion. Trump in recent months has criticized the tech company and its CEO, Tim Cook, for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China. While in Qatar earlier this year, Trump said there was a little problem with Apple and recalled a conversation with Cook in which he said he told the CEO, I dont want you building in India. India has incurred Trumps wrath, as the president signed an order Wednesday to put an additional 25% tariff on the worlds most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50%. As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the U.S. Apples new pledge comes just a few weeks after it forged a $500 million deal with MP Materials, which runs the only rare earths producer in the country. That agreement will enable MP Materials to expand a factory in Texas to use recycled materials to produce magnets that make iPhones vibrate. Speaking on a recent investors call, Cook emphasized that theres a load of different things done in the United States. As examples, he cited some of the iPhone components made in the U.S. such as the devices glass display and module for identifying peoples faces and then indicated the company was gearing to expand its productions of other components in its home country. Were doing more in this country, and thats on top of having roughly 19 billion chips coming out of the US now, and we will do more, Cook told analysts last week, without elaborating. Apple Inc., which is based in Cupertino, California, didn’t immediately comment Wednesday. Bloomberg News first reported the announcement of Apples additional investment commitment. Josh Boak, Associated Press
Category:
E-Commerce
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