Impact of Government Shutdown on Mortgage Rates
Despite the government shutdown, mortgage rates remain elevated. The reasons behind this will be discussed in the Capital Markets Wrap at 3PM ET, presented by Polly.
Support for Affected Individuals
USAA has provided support to military service members and federal employees impacted by the shutdown, offering over $232 million in no-interest loans to approximately 62,000 members.
USAA members can apply for a no-interest loan equal to one net paycheck, up to $6,000.
- USAA has also processed tens of thousands of additional payment relief offers for banking and insurance products.
- HUD has opened a suggestions window for improving the HECM (reverse mortgage) product.
Author's summary: Shutdown affects mortgage rates and support.
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