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.
Yeah, I’m really curious what this is going to do to the overall economy. Personally, I’ll definitely be spending way less on non-essentials once payments resume…
My prediction is that the entertainment and hospitality industries are going to be the first to have massive layoffs.
And a lot of the people who work for that industry are college students, which will accelerate the issue.
As if that sector wasn’t hit hard enough with the virus. I know this is anecdotal but not one restaurant or tourist trap I have been to has the numbers it used to have.