Government Shutdown – What This Means For HUD Homes

“Mortgage rates moved downward last week as the market continued to absorb the Fed’s decision not to taper QE3. Comments from some Fed officials also provided additional insight that the Fed could delay tapering until next year.

A government shut down this week may interfere with government loan originations. HUD rolled out a contingency plan that will allow them to continue insuring loans with a limited staff. Regardless of what happens, the debt ceiling needs to be raised byOctober 15. In addition to the employment report due out on Friday, this week we get the ISM Manufacturing Survey and Factory Orders, both are expected to be up based on consensus estimates. The more uncertainty from Washington, the more likely mortgage rates will move lower.” Source: Gaurantee Rate

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About Rebecca Quick

I'm a full-time Realtor - an experienced professional focused on helping clients realize their real estate goals. Emphasizing the value of each of my clients, my goal is to ensure that all transactions are always completed as smoothly and efficiently as possible.

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