04:12 PM EST, 11/04/2024 (MT Newswires) -- US voters that cast their ballots by Nov. 1 were more likely to consider the economy and inflation over housing affordability when making their presidential pick in the 2024 race, according to a Redfin (RDFN) survey published Monday.

Of the 1,002 adults polled between Oct. 31 and Nov. 1 that had already voted in the US presidential election, 63% said their leading concern was the economy while 59% chose inflation. Rounding out the top five most important considerations were protecting democracy, immigration and healthcare.

Of the 14 issues listed in the Redfin survey, housing affordability came in third to last, with 38% of participants saying it impacted their choice for president. The election is scheduled for Tuesday.

However, housing affordability ranks higher in local races. Roughly 40% of early voters said the cost of housing impacted their choice around local elected officials, lagging behind crime and safety, the economy, and inflation, according to Redfin.

About 32% of survey participants expect mortgage rates to fall if former President Donald Trump, the Republican presidential nominee, was elected, while roughly 23% thought a Kamala Harris win would reduce rates. Vice President Harris is the Democratic nominee.

Last week, mortgage rates rose to 7% for the first time since early July, costing homebuyers about $33,000 in purchasing power from an 18-month low rate levels in mid-September, the real estate brokerage said.

Despite the Federal Reserve's 50 basis-point interest rate cut in September, rates for home loans have ticked higher as investors "try to gauge the odds of increased tariffs and government spending after the election," Redfin said.

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