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submitted 1 year ago by MicroWave@lemmy.world to c/news@lemmy.world

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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[-] zowka@lemmy.world 51 points 1 year ago

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.

[-] Xanthobilly@lemmy.world 13 points 1 year ago

Opposite sides of the same shitbird coin.

[-] ChaoticEntropy@feddit.uk 6 points 1 year ago* (last edited 1 year ago)

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.

this post was submitted on 03 Aug 2023
172 points (98.9% liked)

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