U S National Debt Hits $40 Trillion What It Means for Interest Rates and Housing

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The US national debt has officially crossed $40 trillion. But what does that actually mean for the economy, mortgage rates, and real estate? According to the latest Treasury figures, total federal debt reached approximately $40.05 trillion. What's striking is how quickly we got here. About a decade ago, US debt was around $19.4 trillion. In just 10 years, it has more than doubled. And the government continues to run large deficits. In July alone, the federal budget deficit reached 432.3 billion, bringing the fiscal year deficit close to $1.8 trillion. One of the biggest concerns isn't simply t