Domestic Political Issues
There does not appear to be much progress being made in ending the partial government shutdown. As we roll into the second month of the impasse this week, reports are starting to be delayed for a second time. Fortunately, many of the reports that draw the most attention have not been affected by the shutdown. That said, there are still some that do affect mortgage rates and are considered important that have not been released yet, preventing the markets and the Fed from having all the information they usually rely on. The longer this drags on, the bigger the problem it becomes for market participants and FOMC members. Without that data, it is difficult to gauge overall economic growth and the status of the economy.