Why Didn’t I Get A Snow Day?

  • December 10, 2013

snowdaytoonSome parts of the country are getting buckets of the white stuff just in time for the holiday season. Rates improved at the opening bell and continued into the morning trading hours. Almost like a snow ball rolling down a hill picking up momentum.

  • Wholesale Inventories grew 1.4% in October. This is like black ice. It looks harmless but it’s sending us mixed messages. Inventories are up and it could drive economic growth but it’s not a good thing if no one is there to buy it.
  • A potential budget deal is floating around Washington, which is strange since the debt ceiling expiration date is not in the immediate future. A Christmas miracle, maybe?
  • The Senate debated the confirmation of Mel Watt to lead the Federal Housing Finance Agency today.  Although many Republicans will vote against the nomination, Democrats should obtain 51 votes to confirm the nomination. It’s looking good for Mel at the moment…even if he had to skate into the Capital today.
  • Finally, guarantee fees were increased today. That means you will have to pay more monthly fees to insure your mortgage this spring. It’s like the FHFA is giving us the cold shoulder.

Tomorrow is another quiet day with little economic news. Maybe I can get a snow day…

-By Lindsey Fediuk, Quicken Loans Capital Markets Analyst

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