Mortgage Rates Dip Despite Inventory Issues and Debt Ceiling Deal.

Mortgage rates fell slightly but remain near the highest level in nearly two decades, costing potential homebuyers thousands. Higher rates have dampened consumer demand and brought down home prices. Even just a minor change in rates can affect how much would-be homebuyers pay each month. The spike in mortgage rates comes as the Federal Reserve raises interest rates at the fastest pace in decades in a bid to cool the economy and tame runaway prices.