www.housingwire.com
11 months agoMortgage rates trend down amid lower monetary, fiscal pressures
Mortgage rates jumped last week amid a debt ceiling impasse and expectations of another federal funds rate hike.However, rates have started to reverse course over the last few days, following news of a debt agreement and an expectation that the Federal Reserve may pause hikes.On the fiscal side, President Joe Biden and House Speaker Kevin McCarthy struck a deal on Saturday to suspend the $31.4 trillion U.S. debt limit until January 2025 and cap government spending.