This week’s election surprise has unpleasant consequences for mortgages and housing. Immediately, as in today. And in the longer term, possibly severe ones. That said, fears of the Trump Presidency are likely to be either overdone or misplaced.
- The bond market yesterday was splattered all over the windshield, taking mortgage rates up with it.
- Once you have destabilized the bond market, re-stabilization takes time. Often a long time.