What Happens to Interest Rates Around Elections 2024?

What Happens to Interest Rates Around Elections 2024?

Hey Krys, what happens to interest rates around election time?
Ah, the elections! Love them or hate them, U.S. presidential elections are one of the biggest global events every four years, and 2024 is shaping up to be no different. But beyond the politics, one question always comes up: What happens to interest rates during election years?

Well, according to Freddie Mac and Keeping Current Matters (KCM), mortgage rates have actually decreased in 8 out of the last 11 presidential elections. In 2020, for example, we saw rates drop from 3% to 2.7% under Donald Trump.

Going back further, they fell from 6.4% to 6.1% during Barack Obama’s presidency.That’s right, historically, election years often see a dip in interest rates.

While I can’t predict the future—and if I could, you’d probably catch me at the craps table—these stats certainly give us something to think about.What do you think will happen with interest rates as we get closer to the 2024 elections?

Drop your thoughts in the comments below, and there’s your Krrryyyysssssb tip of the day!