Market Update
Despite the slowing economy, mortgage rates remain elevated. The reasons for this will be discussed in the Capital Markets Wrap at 3PM ET, presented by Polly.
The government shutdown continues, with budget and stalemate news dominating Washington DC. However, some positive news has emerged, such as USAA's support for military service members and federal employees impacted by the shutdown.
“Where do amputees get prosthetics on a budget? The secondhand store.”
USAA Support
USAA has delivered over $232 million in no-interest loans to about 62,000 members to date. Eligible members can apply for a no-interest loan equal to one net paycheck, up to $6,000.
- USAA has processed tens of thousands of additional payment relief offers for banking and insurance products.
- HUD has opened the suggestions window for improving the HECM (reverse mortgage) product.
Author's summary: Economy slows, USAA aids affected members.
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