Borrowers' demand for home loans slowed down last week as mortgage rates increased to their highest level in two months.This time the source of volatility is not the Federal Reserve's tightening monetary policy but ongoing discussions to raise the U.S. statutory debt ceiling in Congress.Secretary of the Treasury Janet Yellen sent a letter to all members of Congressional leadership on Monday saying the federal government will likely no longer be able to satisfy its obligations if Congress has not acted to raise or suspend the debt limit potentially as early as June 1.
#united-states #federal-government #fourth-quarter #highest-level #tuesday-afternoon #obligations #mortgage-rates #previous-day #federal-reserve-bank
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