The Federal Housing Finance Agency (FHFA) announced yesterday that current loan limits backed by Fannie Mae and Freddie Mac will not be reduced in size as originally planned. The FHFA said that current limits will remain in effect until at least springtime. The current ranges are $417,000 in most markets and up to 625,000 in pricier areas.
In economic news, Consumer Sentiment fell to 73.2 in the final reading for October, the lowest level since December 2012 and below the 74.5 expected. Consumers worried that the government shutdown and the debt ceiling issues will slow U.S. economic growth. Consumer Sentiment is a a statistical measurement and economic indicator of the overall health of the economy as determined by consumer opinion.
Heading into the holiday shipping season, package delivery airfreight giant UPS reported that there was increased demand in domestic ground shipments in the latest quarter growing revenues to $13.52 billion, up 3.4% over last year. UPS delivered more than one billion packages worldwide during the latest quarter and reaffirmed its profit forecast for the year.
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