How Housing Fares When a New President Takes Office

Donald Trump's election in November triggered a rise in interest rates that is expected to continue this year. With talk of deregulation and privatizing Fannie Mae and Freddie Mac, the mortgage industry is waiting to see what other effects Trump will have on the housing sector after he takes office. A new president's impact on the industry often depends on the economic situation he inherits, such as high inflation at the beginning of the Reagan administration and soaring foreclosures at the start of Obama's first term. Here's a rundown of how housing performed in the first years in office of the past six commanders in chief, based on data from Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors.

Annual Average Interest Rate for Conventional Conforming 30-Year Fixed-Rate Mortgage 1976: 8.87% 1977: 8.85% Change: 2 basis points lower Total Mortgage Origination Volume 1976: $112.78 billion 1977: $161.98 billion Change: +43.6% Median Price of Existing Single-Family Home 1976: $38,075 1977: $42,750 Change: +12.3% 90+ Day Delinquency Rate 1976: 0.55% 1977: 0.51% Change: 4 basis points lower Foreclosure Rate 1976: 0.69% 1977: 0.70% Change: 1 basis point higher