Bad news typically comes on a Friday afternoon. Just like layoffs are done on Friday afternoons (so I've heard anyway), bank seizures and closures are typically done on a Friday afternoon ... And now, for the first time in history, the United States credit, on this Friday afternoon, has been downgraded. So much for happy hour.
Many have been speculating for some time now that this may happen at some point, causing interest rates and mortgage rates to rise. We shall see if this time is now beginning.
Any thoughts on where this takes interest rates from here? I have no predictions other that, probably not lower.
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