Your Daily Mortgage Update

    The looming government shutdown at midnight tonight is causing global and domestic Stocks to plunge while offering just modest support to the Bond markets.

    In today’s economic news, the Chicago PMI came in better than expected but the news had little impact on the markets due to the larger issue of a potential government shutdown.

    We will continue to recommend a Floating position, but be on guard that if some sort of last minute deal is struck to avoid a shutdown, Stocks could rally and push Bond prices lower. 

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