re: Will mortgage rate ever go back down?

They will likely come down at some point, no idea when though.

Prior to all this debt deal bullshite, the thinking was they would drop back below 5% sometime over the next year or two. Now that Congress may simply "suspend" the debt ceiling until 01/2025?

The Fed has raised rates to attempt to fight off inflation from too much money being shoved into the system (Stimmy checks, PPP, etc) and now Congress is celebrating setting $1.375T as the deficit floor for at least the next budget (if not more).

Does that mean inflation will continue to be "sticky" over the next year (remaining above the desired 2%)? If so, does the Fed just sit at pausing or do they raise rates again?

With this level of dysfunction, it's anyone's guess.