During the week there was not any major economic news released due to the government shutdown. However mortgage rates moved higher during the week and ended the week higher than last week.
The lack of economic data is making it difficult for investors to determine the pace of economic growth especially considering the impact of the government shutdown. Next week the following economic event will occur and data will be released which may impact mortgage interest rates:
- The Existing Home Sales report will be released on Tuesday;
- The New Home Sales report and the Durable Orders report will be released on Friday;
- Mortgage markets will be closed on Monday in observance of Martin Luther King Day.