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Mortgage Rates Fall as Election Unfolds

mattspeakman
·1 min read

Mortgage rates fell over the last seven days in the immediate wake of the U.S. federal election.

The current uncertain outcome of the election appears to have led to a spike in demand for government bonds, placing downward pressure on mortgage rates. A day after rising to their highest levels since June, bond yields plummeted today, falling by more in one day than they have in any other day since April. In this case, bond market investors appear to be interpreting the uncertain election results as a sign that more economic stimulus is unlikely in the near term. The development helped push mortgage rates notably downward. Given the still-uncertain election results, more sharp movements in mortgage rates in either direction may be on tap in the coming days and weeks. What's more, Thursday's culmination of the Federal Open Market Committee (FOMC) meeting and Friday's release of October jobs data also possess the ability to significantly move markets.

After a weeks-long period of relative inactivity, meaningful moves in mortgage rates are likely on the way in the coming days.

The post Mortgage Rates Fall as Election Unfolds appeared first on Zillow Research.