Mortgage rates surge on Moody’s downgrade of US credit rating

Moody’s Ratings is the last credit agency to strip U.S. of most favorable debt rating over concerns that Congress and “successive U.S. administrations” have failed to tackle annual budget deficits, growing interest costs. Continue reading

Homebuyers respond to biggest drop in mortgage rates this year

Purchase mortgage applications trended up last week for the first time in nearly a month as mortgage rates retreated from 2023 highs, according to the MBA’s weekly survey of lenders. Continue reading