the recent decision by Fitch Ratings to strip the U.S. of its triple-A status and downgrade it to AA+
The company also mentioned that the U.S. debt is still growing, that some fiscal issues—like rising social security and Medicare costs—remain unresolved and unaddressed, and that the country is expected to enter a mild recession in the last quarter of the year. "Taken together, this has had no significant net impact on yields, or the mortgage rates that tend to follow them."
Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors , has a more negative outlook on the impact of Fitch's downgrade on the housing market.
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