Direct impact on the mortgage market
Mortgage rates are highly dependent on the interest rate set by the Federal Reserve. The series of events, including Moody's downgrade of U.S. sovereign debt, the subsequent rise in U.S. Treasury yields, and the near-term expected increase in the median federal interest rate, are hitting the housing market by making mortgages more expensive. On Monday, the U.S. mortgage market reacted to Moody's downgrade of U.S. debt with rising interest rates. According to Mortgage News Daily, 30-year and 15-year fixed rates rose this week to their highest levels since April 11, and are currently 6.99% and 6.35%, respectively.#VeteranIBSuccessStory#CommunityAMA
Direct impact on the mortgage market
Mortgage rates are highly dependent on the interest rate set by the Federal Reserve. The series of events, including Moody's downgrade of U.S. sovereign debt, the subsequent rise in U.S. Treasury yields, and the near-term expected increase in the median federal interest rate, are hitting the housing market by making mortgages more expensive. On Monday, the U.S. mortgage market reacted to Moody's downgrade of U.S. debt with rising interest rates. According to Mortgage News Daily, 30-year and 15-year fixed rates rose this week to their highest levels since April 11, and are currently 6.99% and 6.35%, respectively.#VeteranIBSuccessStory#CommunityAMA