GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
But how specifically might a second Trump presidency affect your bank account?
Lower interest rates boost demand for borrowing, as loans become cheaper.
Real Estate Industry Boost
Interest rates affect one industry more than any other: real estate.
Lower interest rates make the monthly payments more affordable on thesame size loans.
Lower interest rates typically increase real estate activities, generating more jobs and a stronger economy, Trigub added.
Greater affordability for monthly payments means buyers can afford to bid more for the same home.
That would make it easier for borrowers with medical judgments to get loans, of course.
But wiping information about creditworthiness from the record doesnt eliminate risk of default.
Withless predictive informationwhen pricing loans, banks typically spread the risk premium across the pricing for all borrowers.
In other words, all borrowers may pay slightly higher rates, rather than just borrowers withoutstanding medical debts.
Or banks may put more weight on other risk factors to determine loan pricing.
The above is less likely to happen under a Trump presidency.
The end goal is to tame the many countries who presumably take advantage of the United States.
But a trade war with China potentially increases market volatility for retirement accounts.
Other analysts foresee less geopolitical uncertainty under a Trump presidency.
I think the economy will improve and financial markets will exhibit more sustainable buoyancy.
That could inadvertently affect retirement savings.
No matter what the political future holds, stick with the fundamentals in your personal finances.
Do that, and youll sit pretty regardless of who ends up in the Oval Office.
More From GOBankingRates
Share This Article:
