Debt Ceiling Looms- May 16 - Weekly Mortgage Update
Last week, investors hopped around financial instruments last week like caffeinated squirrels causing market volatility, while mortgage rates climbed Mount Everest.
📊 Market Summary
Last week was a bit of a rollercoaster in the finance world (deja vu, anyone?). You know all those banking blunders and that ongoing saga about the US debt ceiling? Well, as soon as things started to chill a bit, they all did a complete 180. But guess what didn’t get the memo? You probably guessed it...mortgage rates - they just kept climbing. They hit their highest since early March, you know, before all the banking drama kicked off.