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Any thoughts on the future of your country now that Trump won?
So What Do You Think The Next 4 Years In The US Are Going To Be Like?
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Mortgage Rates Set To Rise as Donald Trump Clinches Election Win
ByNov 6, 2024
Donald Trump has defeated Kamala Harris in to become America’s 47th president, and the financial markets that determine mortgage rates are already reacting.
The Associated Press projected Trump’s victory in at 5:43 a.m. ET on Wednesday, putting the Republican former president over the threshold needed to become just the second candidate in U.S. history to win two nonconsecutive White House terms.
Bond markets responded quickly, with the yield on the 10-year Treasury rising to 4.47% Wednesday morning, up from 4.3% before the first election polls closed on Tuesday. Mortgage rates generally move in tandem with the 10-year yield, with lenders setting their daily rates based on the underlying bond markets.
It means that daily mortgage rates are set to rise at the start of business on Wednesday, a move that will be unwelcome to prospective homebuyers who have been waiting for rate relief.
Although Trump has vowed to somehow lower mortgage rates if elected, the prospect of his election victory had been driving mortgage rates higher in recent weeks. After touching a two-year low in mid-September, mortgage rates have risen for five consecutive weeks, hitting 6.72% last week, according to .
Comments from high-profile bond investors indicate they are fearful that a red sweep of the White House and Congress will result in higher government deficits, according to . Trump is also viewed as good for the stock market, with the main indexes jumping higher at the opening bell on Wednesday, making bonds relatively less attractive to investors.
In the early hours of Wednesday morning, Trump—flanked by his family—declared to supporters in West Palm Beach, FL that it was “a political victory that our country has never seen before” and vowed to “fight for you and your future”.
“We’re going to make you very happy, we’re going to make you very proud of your vote. America has given us an unprecedented and powerful mandate,” he said.
Trump added that he will “not rest until we have delivered a strong safe and prosperous America that you deserve and that your children deserve.”
If Republicans deliver on Trump’s vows to impose blanket tariffs and conduct a massive migrant deportation operation, while extending tax cuts, the government’s deficit could balloon.
Bigger deficits would mean more bonds on the market, and investors have responded by bidding long-term bond prices down, driving yields up. Higher 10-year yields mean higher mortgage rates.
“Investors are taking Trump at his word and believe if he wins, it will lead to higher tariffs, immigrant deportations, and deficit-financed tax cuts in a full employment economy, all of which means higher inflation and more government borrowing,” Mark Zandi, chief economist of Moody’s Analytics, last week.
“The recent surge in mortgage rates is a clear indication [of] what investors believe a Trump victory would mean for the economy and the nation’s fiscal outlook,” he added.
With Trump now headed for the White House, congressional control will be the next big question for mortgage rates. Republicans regained control of the Senate on Tuesday, but it could be days before control of the House becomes clear.
A Democratic majority in the House would likely be viewed by bond markets as a moderating force on Republican fiscal policy, requiring some level of compromise to pass spending packages. That could put a brake on mortgage rates and offer some relief.
If Republicans do hold on to their House majority, it could push rates even higher. On the other hand, a Republican House majority already seems extremely likely, as no part has ever lost control of one chamber of congress while forging a new majority in the other.
So a Republican sweep may be largely baked in to the bond market already. In that case, expect to see mortgage rates remain roughly flat from Wednesday’s level as the final House races get called.
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Economic and political chaos, a rise in hate crimes, seeing complete morons whose only job qualification is sycophancy installed in cabinet posts. Inflation caused by the Tariff "Sales Tax" a disruption in Agriculture and construction as labor is deported, further driving up prices and inflation. Show trials as Trump seeks revenge on people that had the courage to point out his nudity.
Goodbye Ukraine, Good luck Europe it's been nice knowing you....hello beautiful republican healthcare plan(LOL!), Grandma we have to cut your Social Security so Jeff Bezos and Elon can have more tax cuts!
Goodbye Ukraine, Good luck Europe it's been nice knowing you....hello beautiful republican healthcare plan(LOL!), Grandma we have to cut your Social Security so Jeff Bezos and Elon can have more tax cuts!
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I'll be fine. Those 'Muricans that are hurting and think their lives are going to get better...well, I wish them luck.
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MSNBC talking heads prattling on about how Dems got immigration and hispanic voters wrong.
Too bad no one imformed them, right?
Oh, but wait - people did inform them for the longest, but unfortunately....
THEY WERE TOO FUCKING STUPID TO LISTEN AND UNDERSTAND !!!!
Too bad no one imformed them, right?
Oh, but wait - people did inform them for the longest, but unfortunately....
THEY WERE TOO FUCKING STUPID TO LISTEN AND UNDERSTAND !!!!
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The real problem is the transfer of wealth from the bottom up.
Who is too stupid to understand that? Wanna raise your hands for me?
Who is too stupid to understand that? Wanna raise your hands for me?
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I hope the GOP sweeps the House too
Then the people who voted for them will get exactly what they deserved and wished for
But remember…absolute power corrupts absolutely
I will laugh heartily at government employees who voted for Trump when he hands them their pink slips
Then the people who voted for them will get exactly what they deserved and wished for
But remember…absolute power corrupts absolutely
I will laugh heartily at government employees who voted for Trump when he hands them their pink slips
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Two separate issue...LoLz
. No they aren't.
You may knee-jerk that correlation is not causation, but you can't convince any thinking, rational person that the changes in 1965 didn't lead to suppression of wages and the rise of corporatocracy. Dems adopted a libertarian (radical conservative economic position) stance. Again, I will say, thanks libtards.
Oh, as I have repeated over the many years, how ironic that Repukes villify the future of their party while Demotards imagine coddling will make them beholden.
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The new wealth is leaving America regardless of who won.
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The billionaires these people voted into power are insulated from the policies that will further hurt the American people.
Oh well, this is what Americans wanted, so be it.
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Immigration is not the big issue the GOP has been bleating about the last several years 'illegal immigration' had been declining for years before Trump took office in 2016.....it only became an issue because Trump turned it into one, the candidate with the scariest propaganda swayed the vote this time. There is not now, nor has there been for decades an 'OPEN BORDER'
Read up on the Marielito Boat lift and its impact on the labor market in Miami.
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Now we are going to have the insanity of RFK Jr. influence Medicine and Food for America.
and the even loonier JD Vance as the Drag Queen in waiting, for when Trump strokes out.
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That may be the most ironic statement you've ever posted.
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Yes.
It's what the majority want. I respect the outcome.
I won't be buying a ticket to DC to try to overturn the results of an election. I'm an American that loves my country, warts and all.
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This is why Democrats just got fuckstomped: delusion.
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Have you drawn up your list of brown people to report to ICE yet?
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I won't be calling in bomb threats or storming a government building and stealing souvenirs either, or crying nonstop about a "stolen election".
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Not to rub it in or anything but did you guys realize that the presidency is not all Democrats lost last night?
Aside from your minds you also lost the senate.
That's a four for four. Ouch.
Aside from your minds you also lost the senate.
That's a four for four. Ouch.
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Actually it's a four for four for four.
or at least two. Minimum.
or at least two. Minimum.
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You Trumptard's wildest dreams have now come true, soon America will be the super duperest greatest bestest ever!
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You are not excited by a unified government at all federal levels? It's a chance to get things done for a change, friend.You Trumptard's wildest dreams have now come true, soon America will be the super duperest greatest bestest ever!
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Give me your shortlist on agenda items to make Merica greatester?
I, for one, am sort of glad that they'll probably get 100% control.
It will be all on them. All.
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"I would proudly give up my Medicaid, if it means Bill Gates and Warren Buffett can haz moar tax cuts!"
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. This is what I mean though, you can put it all in front of them, explain it over and over - remind them that it's 2024 not 1840 or 10,000 BCE, you can observe that their favorite News program has "experts" finally waking up, and yet libtards will stay the course that has run this country into the ground (and I mean as much because of them, those policies, as for having caused the rise of a radical conservative social reaction - and I say social reaction because that rank and file are played for fools by their masters - because they love this, their dream playing board). Zero acknowledgment that they fucked up. See, libtard rank and file are every bit as.....
........ STUPID ....as contard rank and file.
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Nah, man. They want to suck Elon's dick...that's their man. lol
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