Ed P
2024-11-06 19:42:50 UTC
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PermalinkMortgage rates surge higher on Trump victory, causing housing stocks to fall
President-elect Donald Trump's victory spurred a rise in in the U.S.
10-year Treasury yield. Mortgage rates, which loosely follow the
benchmark yield, are also climbing.
The average rate on the 30-year fixed mortgage surged 9 basis points
Wednesday to 7.13%, according to Mortgage News Daily. That is the
highest rate since July 1 of this year, though not quite the surge some
had expected.