Mortgage rates continued to inch up this week, reaching 6.79%,” Sam Khater, Freddie Mac's chief economist, noted, indicating sensitivity to economic changes post-election.
The day after the election, the 10-year Treasury yield jumped to nearly 4.7%—rising to the highest levels since April in the wake of a Trump-Vance victory and Republican election sweep,” stated Ralph McLaughlin, providing insight into market reactions.
While it's not always 100% clear what markets are thinking, they could be expecting a combination of stronger economic growth, more fiscal spending, as well as higher prices and inflation because of more tariffs and lower taxes,” explained Ralph McLaughlin on the implications of election results.
The market took the report as an outlier, suggesting potential concerns over economic stability, despite the significant drop in job additions, which might foreshadow mortgage rate volatility.”
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