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MSNBC MSNBC Reports July 6, 2024

slow start, putting it bluntly, quote, welcome to the seinfeld congress. it is a show about nothing. the vote on congresswoman omar is one of the political squabbles unfolding while the nation ticks a day closer to defaulting on its debts. house speaker kevin mccarthy met with president biden yesterday, but there doesn t appear to have been any progress on the debt limit. the president did strike this optimistic tone while speaking this morning. start treating each other with respect. that s what kevin and i are going to do. not a joke. but a good meeting yesterday. we ll get latest ahead. also this morning, day four of that deadly ice storm across the south. cars are spinning out of control on highways. thousands of flights delayed and canceled. and in texas, nearly half a million people are facing the bone chilling cold without power. it is scary. definitely scary. i can say that. it is very slippery out here. probably one of the worst. we ll get an update ....

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MSNBC MSNBC Reports June 4, 2024 16:52:00

What does this mean for something like housing, which we know has fallen off a cliff in terms of how depressed it has gotten. mortgage rates are tied to the ten-year treasury yield, which does not move directly in line with the fed s rate setting decision. actually, the ten-year-year-old has come off a bit since its october high. with it, mortgage rates. the ten-year yield is a reflection of market expectations for where the economy is headed. we know that the economy is slowing down right now in large part because of the fed raising interest rates. a typical 30-year fixed mortgage rate is now about 6%. that s off from october. it s still about double where we were a little over a year ago. what that has meant is it weighed on sellers, on buyers who are now facing higher borrowing costs. that has put downward pressure on home prices. at some point home prices are going to come off enough and correct enough that sellers or that buyers will look to get back into the market. it s a simi ....

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