Trump's Election Win Sparks Mortgage Rate Surge and Housing Market Concerns

Mortgage rates are expected to rise as Donald Trump appears to be leading in key swing states, influencing bond markets and increasing the yield on the 10-year Treasury. This rise in yields typically leads to higher mortgage rates. Trump's potential policies, including tariffs and tax cuts, could increase government deficits, further impacting bond markets and mortgage rates. The outcome of the congressional elections will also play a crucial role in determining future fiscal policies and their effects on mortgage rates.