President Obama signed a deal late last night to end the partial government shutdown. The market recovered all morning losses causing a re-price for the better.
Mortgage rates increased slightly yesterday as hesitant investors wait for news regarding the government shutdown. Trading volumes are 75% of the 30-day moving average showing the direct impact the political uncertainty has on the MBS market.
Another race, another Bring It Home finish for Ryan Newman, driver of the No. 39 Quicken Loans Chevrolet. After a wreck in the Hollywood Casino 400 at Kansas Motor Speedway two weeks ago resulted in a 35th-place finish, Ryan finished 8th at the Bank of America 500 last weekend.
Treasuries futures soared on headlines about a tentative deal; but the MBS market was closed. Investors are pining for economic data, but have to settle for the political soap opera.
Mortgage rates remained flat Friday. The market saw more volatility than the previous week, however any potential long term moves hinge on the government reopening for business. Investors are eager to see the employment report compiled prior to the shutdown, however it still has not been released. Thursday is the big news day with Jobless Claims and the Philadelphia Fed Survey still scheduled to be released.
It was a rough start in the morning yesterday but a rally in the afternoon helped turn us in the right direction. The turnaround was caused by a better than expected 30-year treasury auction as well as public comments by multiple Fed officials stating they did not expect any taper of the QE program before the end of the year.
While the weather can flip flop daily during the fall, mortgage rates can sometimes do the same. However, this wasn’t one of those weeks. In fact, there was barely even a change in mortgage rates.
The government shutdown shows its first sign of easing as housing Republicans prepare to meet with President Obama for the first time since the shutdown began.
The FOMC minutes from September will be released today at 2 p.m. ET, which will provide further details about the direction the Fed is heading with its current bond buying program.
Approximately 11.6 million Americans were victims of identity theft last year. If you’ve been a victim, you know it’s a hassle. Between canceling all your credit cards to changing all your online account passwords (not to mention losing money!), the entire ordeal is more than stressful. It’s also time consuming. You don’t have to fret. Here are a few steps you can take to protect your identity online which includes bank accounts and other sensitive information from theft.