30-year mortgage rate tops 7% for first time in over a year
President Trump hosted Chinese President Xi Jinping at the White House on Thursday for a state dinner capping the first day of a two-day summit between the leaders of the world’s two largest economies, while Israeli Prime Minister Benjamin Netanyahu returned to Israel after addressing the United Nations General Assembly in New York, where dozens of diplomats walked out as he spoke.
The Trump-Xi meeting came amid low expectations for major announcements, according to NPR’s Deepa Shivaram. The roughly three-hour White House session touched on potential cooperation in artificial intelligence oversight.
U.S. and Chinese officials had discussed an information-sharing system to alert each other to AI incidents affecting national security, Shivaram reported. She said such an arrangement would be a significant development in global AI security, given that few guardrails exist for the technology, though she added that it remained unclear how far the proposal would advance. Trump has said he wants to leave AI regulation “exactly where it is,” even as experts from both countries have held informal talks on shared AI risks including cyberattacks and loss of control.
The state dinner that accompanied the summit was itself a story. Despite a federal judge’s ruling restoring White House press access, CNN and MS Now were denied entry, NPR’s Brian Mann reported. Journalists for Chinese state-controlled media were admitted. Major television networks have not restored full shared pool coverage of the president and are seeking written assurance that CNN will receive equal access without government interference.
Netanyahu had traveled to New York to address the General Assembly, where dozens of diplomats walked out as he took the podium. Some supporters cheered from the public gallery. In his address, Netanyahu celebrated and defended the U.S. and Israeli-led war in Iran, rejected claims that Israel has committed genocide in Gaza and downplayed escalating settler violence against Palestinians in the occupied West Bank, where settlements are illegal under international law.
NPR’s Kat Lonsdorf said the week underscored how increasingly isolated Israel has become both at the United Nations and in public opinion. About 100 people were arrested after large groups gathered in Midtown Manhattan to protest Netanyahu’s visit, chanting “Let Gaza live” and “the whole world is watching.” New York City Mayor Zohran Mamdani has also been outspoken against the Israeli prime minister’s visit. Netanyahu met with very few world leaders before returning to Israel and, notably, did not meet with Trump.
On the domestic economy, the average rate on a 30-year fixed mortgage reached 7.03% as of Sept. 25 — the first time the benchmark has topped 7% in more than a year. The sharp rise in rates since March risks further squeezing homebuyers’ budgets and deepening the freeze on the housing market, NPR reported. The National Association of Realtors reported that high mortgage rates contributed to a 2% decline in existing home sales in August from the previous month.
Housing researchers had hoped 2026 would bring relief: mortgage rates briefly fell below 6% in February before climbing back after the war in Iran introduced volatility into bond markets, according to NPR. Earlier this month, the Federal Reserve raised its benchmark interest rate by a quarter percentage point, aiming to slow accelerating inflation. The central bank raises rates to push up borrowing costs across the economy and cool prices; it cuts rates when concerned about the labor market.
In other developments from NPR’s newsletter, the people of Switzerland will vote this weekend on whether to make the country’s historic neutrality stance more legally binding. Online retailer eBay has joined its competitors in banning sales of airbags; earlier this year, federal regulators found that substandard airbag inflators imported from China were linked to a dozen deaths or injuries since 2023. Star Wars creator George Lucas opened the Lucas Museum of Narrative Art this week in Los Angeles, with only a small part of the museum dedicated to his film franchise; Lucas has been collecting art since his college days.
In NPR’s Weekend picks, a new HBO docuseries features Jay-Z dissecting his catalog with producer Rick Rubin; the series aims to further cement the artist’s legacy as one of the most revered lyricists of the era. New DNA analysis has added evidence that Thomas Jefferson fathered children with Sally Hemings, a woman he held in slavery; the twists and turns of the investigation are detailed in a new book, “History by a Hair.” Ella Langley’s “Choosin Texas” is now the longest-running No. 1 Billboard hit of all time, according to NPR’s Stephen Thompson. Longtime friends Brian Landry and Peter Harris, who have known each other since the fifth grade, have teamed up on a new cookbook, “Rhythm & Roux: The Simmer and Swing of New Orleans,” that pays tribute to two of the Big Easy’s staples. Game publishers are also rushing to debut their work before Grand Theft Auto 6’s release in November.