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Mortgage Rates Steady At Recent Lows Ahead of Election

Posted To: Mortgage Rate Watch

Mortgage rates move higher and lower all the time, but truly massive moves tend to arrive with many months (if not years) in between. The trade war in 2019 and the pandemic in 2020 both served to push rates significantly lower, but how about rate spikes? If we’re talking about the really big stuff, there are only 4 obvious candidates in the past 20 years. Two of these had more to do with volatility following the financial crisis in 2009 and 2010. The two more recent rate spikes occurred in 2013 after the Fed signaled a shift in its bond buying plans and in Nov 2016 after the presidential election. The implication is obvious. The last election caused one of only a few huge rate spikes and the next election is tomorrow night. This is NOT to say that we should EXPECT a similar move. After all…(read more)

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