Election uncertainty contributed to an upward swing in mortgage rates during October. Then rates went up even more last week as the stock market and yields reacted to the election results. The 10-year Treasury yield jumped 15 basis points on Nov. closing to trade at 4.43%, hitting its highest level since July, as investors bet a Trump presidency would increase economic growth, along with fiscal spending.

https://www.cnbc.com/2024/11/15/heres-what-to-expect-on-mortgage-rates-into-early-2025.html