Mortgage rates climb toward 7% after America's credit rating was downgraded
Mortgage rates climb toward 7% after America's credit rating was downgraded
US mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
US mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
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Credit downgraded largely due to the J6 insurrection. Great job MAGAts. May you never be able to afford a home.
While J6 did factor into it, the rating is on the governments ability to pay back its debt, aka to not default.
The bigger issue, in this context, that I’ve seen is the republicans playing with the debt ceiling and threatening to not raise it. This directly makes it more likely the US government can’t/won’t pay its debt off.
It's mostly J6.
Countries with attempted coups aren't stable investments.
Opposite sides of the same shitbird coin.
It isn't even the first time they've done it and caused chaos... or the second time... Or...
The debt ceiling is a bargaining chip when they're not in charge.
Everything I read pointed more towards the government’s willingness to wait until the final hours to agree on a budget, narrowly avoiding default.