Freddie Mac

Mortgage rates keep rising after Trump's election, threatening home affordability

Mortgage rates keep rising after Trump's election, threatening home affordability

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

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

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

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