Despite the increase in rates, some home buyers were returning to the market, according to the Mortgage Bankers Association. The market composite index — a measure of mortgage a

Mortgage rates stayed flat from last week at 6.78% as financial markets digested President-elect Trump's victory.

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 Freddie Mac.