BMIC Mortgage Blog

Market Highlights - Tuesday October 15, 2013

October 15th, 2013 12:36 PM by Gary Schiller

Due to the uncertainty regarding the Federal Government Shutdown and the possibility of a US Default, we thought it appropriate to begin to provide periodic Market Highlights. 

The markets opened this morning with stocks lower and mortgage bonds relatively flat.

According to Senate Majority Leader Reed, and Republican Leader McConnell, a deal may be in the works to end the government shutdown, and increase the debt ceiling, thus averting a US default.

There is some discussion by Fed watchers that the Federal Reserve will not decrease, (taper),its’ QE3 bond buying program until March or June 2014. If that occurs, stocks could move higher.

Posted in:General
Posted by Gary Schiller on October 15th, 2013 12:36 PM