Mortgage Rates Experience Significant Fluctuations Post-Election

Despite a recent drop, mortgage rates remain elevated due to economic factors and policy expectations following Trump's presidential victory.

Mortgage rates for 30-year loans saw their largest decline since August, dropping to an average of 6.81% after reaching a recent high.
The Federal Reserve's recent interest rate cuts have not directly lowered mortgage rates, which are more closely tied to 10-year Treasury yields.
Economic growth expectations and potential policy changes under Trump's administration could maintain upward pressure on bond yields and mortgage rates.
National averages for 30-year refinance mortgages also fell, marking the largest single-day decrease since September, yet remain nearly a percentage point above recent lows.
Experts suggest that while some anticipate rates will remain high, others believe market adjustments could lead to lower rates in the coming months.