Mortgage applications rise on refinancings

Reuters: Applications for U.S. home loans rose in the latest week as demand for refinancing outpaced purchases, according to data from an industry group released today. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 1.3 percent in the week ended Oct. 4.

 

Fed might let us down easy in the event of a debt default

CNNMoney: When it comes to the government shutdown and possibility of a debt default, the Federal Reserve can't save the day, but that may not stop it from trying to soften the blow to the U.S. economy. It is becoming increasingly likely the Fed will keep its stimulus program in place longer than many expected. Since last September, the central bank has been buying $85 billion in bonds each month in an effort to lower long-term interest rates, particularly on mortgages.

 

Nuclear could be running out of power

The New York Times: Most nuclear reactors in the United States rely on a type of lithium that is produced only by China and Russia, and the supply may be drying up, according to a study to be released today. The Government Accountability Office said the looming shortage of material critical to the operation of 65 out of 100 American nuclear reactors "places their ability to continue to provide electricity at some risk," a conclusion echoed by outside experts.