Rates take a hit on concerns over U.S. Debt Limit. Has the U.S. maxed out the credit card?
Seattle Mortgage Reel Breaking News: U.S. Treasury is stating that the debt ceiling of $13.3 trillion will be reached no later than May 16, 2011. This has pressured rates higher for a mid-day price change. Rates will be more volatile to news like this because of the lack of other economic data and auctions this week.