Tags: mortgage | rates | economy | home loans

Mortgage Rates Keep Rising After Trump's Election Win

Image: Mortgage Rates Keep Rising After Trump's Election Win

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Wednesday, 23 Nov 2016 06:58 AM

Long-term U.S. mortgage rates continued to surge this week in the aftermath of the election of Donald Trump.

Mortgage giant Freddie Mac says the average rate on a 30-year fixed rate loan shot up to 4.03 percent, the highest since July 2015 and up from 3.94 percent a week earlier. The rate on 15-year home loans climbed to 3.25 percent, up from 3.14 percent last week and highest since January.

Long-term U.S. interest rates have climbed since Trump was elected Nov. 8 largely because bond investors believe Trump's plan to cut taxes and spend massively on roads, bridges, airports and other infrastructure could ignite inflation.

The yield on 10-year Treasury notes has risen from 1.87 percent on Election Day to 2.38 percent Wednesday.

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Long-term U.S. mortgage rates continued to surge this week in the aftermath of the election of Donald Trump.
mortgage, rates, economy, home loans
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2016-58-23
Wednesday, 23 Nov 2016 06:58 AM
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