The year-over median price of homes in the North County and San Diego housing markets increased by over 5 percent in October. Now that the election is over, will it affect home prices and mortgage rates? Not necessarily. This is because most housing decisions are made on the local and state level rather than the federal level, broader economic factors drive housing prices and mortgage rates, plus change is slow. Due to all of these factors, experts aren’t predicting much change in the short term, and say housing prices will most likely continue to rise.