Fri, Oct 11, 2013, 0:24AM EDT – US Markets open in 9 hrs and 6 mins
So far, the government shutdown has left babies without formula, military families without death benefits, home owners locked out of their properties, investors increasingly worried about a financial meltdown and animal lovers deprived of streaming panda video. In our peculiar, looking-glass economy, however, unhappy developments sometimes generate unexpected benefits. Here are three ways ordinary people stand to gain from the gridlock in Washington:
Lower mortgage rates. A month ago, the average mortgage rate on a fixed, 30-year loan was 4.57%, according to Freddie Mac. That has since fallen to about 4.2%, reversing part of a summer run-up that pushed mortgage rates to the highest levels of the year and threatened to choke off the nascent housing recovery.