Suppose I have a form on a page at this location...
http://mydomain.com/myform.htm
And the form looks like this...
The POST request will be transmitted over HTTPS (so encrypted if configured properly). Submitting a form from a page obtained over plain HTTP to an HTTPS page is bad practice. The initial page should also be served over HTTPS. The reason for this is that a MITM attacker could intercept the response that loads the page with the form and replace the link to point to another target.
See the first rule here (of course, not specific to login pages):
Rule - Use TLS for All Login Pages and All Authenticated Pages
The login page and all subsequent authenticated pages must be exclusively accessed over TLS. The initial login page, referred to as the "login landing page", must be served over TLS. Failure to utilize TLS for the login landing page allows an attacker to modify the login form action, causing the user's credentials to be posted to an arbitrary location. Failure to utilize TLS for authenticated pages after the login enables an attacker to view the unencrypted session ID and compromise the user's authenticated session.