According to the latest Freddie Mac update, the 30 Year Fixed has jumped to 4.16%, from 3.94% just a month ago, and 3.5% as of early October. But more troubling was Freddie’s explicit warning, that “if rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017.” Source: Zero Hedge
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Investors in Venezuelan securities are breathing a sigh of relief after the government once again made good on its promise to pay foreign bondholders. The nation, one of the world’s riskiest debtors, said yesterday it was having difficulty wiring a $185 million interest payment that was due Sept. 15. Officials confirmed Thursday that the money was on its way to bondholders. Source Bloomberg
Maine’s largest city will no longer celebrate Columbus Day as a municipal holiday. The Portland City Council voted unanimously Monday to designate the second Monday in October as Indigenous Peoples’ Day. The vote came after nearly an hour of public comment. Source pressherald
French President Emmanuel Macron signs the controversial labor reform legislation, which sparked mass protests in the country. The reforms would make it easier for companies to hire and fire workers, as well as give them more authority over pay and working conditions. Source: Sputnik