Mortgage rates ticked up slightly on Thursday but essentially held steady as markets took a pause amid cautious optimism over the federal government’s reopening after the longest-ever shutdown, tempered by lingering economic uncertainty. The average rate on 30-year fixed home loans rose to 6.24% for the week ending Nov. 13, up from 6.22% the week … Read more
The U.S. House of Representatives has passed a bill to reopen the federal government, ending the government shutdown after a record-long 43 days. The White House says President Donald Trump is prepared to quickly sign the bill, which will fund the government through Jan. 30, without extending the expiring health care subsidies Senate Democrats had … Read more
The Senate bill to reopen the federal government is headed to the House for a final vote, bringing an end of the longest shutdown in U.S. history closer—as the economic toll from the disruption continues to mount. The length of time it takes the Republican-controlled Congress to pass the funding package could cost the economy … Read more
Without key government data during this record-breaking shutdown, the signals we do have on the economy are mixed and housing is caught in the middle. The federal government shutdown is now the longest one on record, surpassing the 2018–19 shutdown that lasted 35 days. While lenders have workarounds to keep many home sales on track, … Read more
Consumer confidence about the economy declined slightly in October, driven by Americans’ concerns over the ongoing federal government shutdown, rising inflation, and future scarcity of jobs. The Consumer Confidence Index, a measure of U.S. consumers’ sentiments about personal finances and the economy, slipped 1 point in October, to 94.6, from an upwardly revised 95.6 the … Read more
Blinded by a data blackout during the government shutdown and deeply divided on the correct path forward, top Federal Reserve officials are meeting again to decide their next move on interest rates. Fed Chair Jerome Powell is joining other members of the Federal Open Market Committee (FOMC) in Washington, DC, on Tuesday for the two-day … Read more