Anyone buying or refinancing a home wonders: how will the election affect mortgage rates? It's been a tough road for prospective buyers, especially in cities where prices remain discouragingly high. And for those who bought recently at over 7% mortgage rate, relief would be, well, a relief.
Happily, the answer is yes: the 2024 election will impact mortgage rates, though not immediately. That’s because mortgage rates are influenced more by macroeconomic factors than political factors. According to Chad Breeden, owner and founder of Sentry Real Estate, when the administration shifts, new economic policies can either boost or reduce market confidence and influence interest rates.
