This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
W S
Investments / The Ticker

Investors look to Wall Street as the government shuts down

white house and dollar
/ Print / Reprints /
| Share More
/ Text Size+

All attempts for a final funding solution and agreement on health care failed on Capitol Hill Monday, throwing Congress and the nation into the country’s first government shutdown in over a decade at midnight.

But what does it mean for the stock market rally? As of Monday night, the HW 30 -- an index of housing and mortgage-related stocks -- was down on just the expectation of a shutdown. Federal agencies, including the Department of Housing and Urban Development, were already prepared to close, which means only a few hundred of HUD's employees will stay on the job.

Banking analyst Dick Bove with Rafferty Capital Markets noted that most of the housing economy -- including Fannie Mae and Freddie Mac -- is funded separately and not impacted by the shutdown.

Comments powered by Disqus