Government shutdown not affecting interest rates, yet
The following is a guest blog from Jeffrey Heckman and Joanne Rotella with Shelter Mortgage Company and does not necessarily reflect the views of GeorgiaMoves.com
1. Of course, the big news last week was our country’s first partial government shutdown in 17 years! Surprisingly, though, the impact on the mortgage business has been minimal. The only big loss thus far has been the USDA rural housing program. Be aware that the longer the shutdown drags out, though, the more problems and delays will begin to occur.
2. The government shutdown’s impact on mortgage rates has also been minimal mostly because U.S. Government economic reports are not being released. The markets will be less volatile with less news being reported.
3. The first Friday of each month is usually notable for the reaction to the Employment report but, obviously, there was no report released on Friday. Investors were forced to adjust
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