What will happen to the housing market if there is no debt ceiling agreement?

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This isn’t a question to pointy fingers and insults towards demo or rep…I myself am so sick of all these greedy jerks on both sides!! Wish we could give them all a “who cares about the people of the United States” dedector test and bounce the failures, but that’s just my dream.

Chances are it won’t happen what’s your theory? Will interest rates sky rocket? If so, how soon and to what level? More foreclosures? Even higher unemployment?

  1. Reply
    Blatantly true
    January 19, 2013 at 5:25 pm

    Some borrowers could find it more difficult to get approved for a mortgage. This might happen if banks become more cautious and slow their lending to each other, as they did during the height of the economic collapse in 2008, notes Greg McBride, a senior analyst with Bankrate.com, a publisher of financial data.
    The government’s cost of borrowing would also rise if there was an unprecedented downgrade of the country’s credit rating. Those costs would be felt by all, because the interest rates on consumer loans, such as mortgages, are tied to government bonds.

  2. Reply
    January 19, 2013 at 6:14 pm

    I guess there will be tighter credit for borrowing to build homes and to buy them.

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