As the government shutdown reaches day 14, the future remains uncertain. Although the Senate is set to reconvene today to vote on a Republican short-term spending measure, the fact that this is the eighth vote on the matter with little movement on stances from lawmakers has left much to be desired in terms of a…
Mortgage rates moved within expected patterns this week, edging down only slightly as the government shutdown reaches its ninth day. Last week, economists said rates were expected to remain within a tight range during the shutdown unless other unexpected developments emerge. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday,…
As the government shutdown limits activity in many markets, mortgage applications continue to drop for the second consecutive week, aligning with projections stating that October would see less demand and less competition between homebuyers. The Mortgage Bankers Association (MBA) reports that the market composite index—the measure of mortgage loan application volume—decreased 4.7% on a seasonally…
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