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  • Morgan Stanley settles for $3.2 billion over 'deceptive' mortgage bond practices

    Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday. Click the headline to read more.

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Investors look to Wall Street as the government shuts down

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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.

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