The just completed “fiscal cliff” resolution and all of its political wrangling was probably nothing more than a light warm-up for the debt-ceiling debate that will begin this week.
The mood in Washington is ugly, and will undoubtedly get worse as Democrats and Republicans fight over government spending and entitlement program expenses. Despite all the drama Congress provides, mortgage rates continue to be near record lows:
30 YR ($417,000 or less): 3.50%
15 YR ($417,000 or less): 2.75%
30 YR Jumbo: 4.0%
American Mortgage & Equity Consultants, Inc.
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