Economic Update

What will happen when the government shutdown starts.

Main thing affecting mortgages will be the shutdown of the FHA. They won’t be able to underwrite and approve new loans if there’s a shutdown, so let’s hope this shutdown gets over with quickly….

Other news from last week was a 2.5% growth in the Gross Domestic Product, which was in-line with expectations. Also the Case-Shiller index rose by 12.4% compared to the same time last year.

Bottom Line for Mortgages

Mortgage rates are lower again at the start of the week with all the uncertainty.

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