Morning Business Report: Government shutdown impacts, 50-year mortgage proposal, and Disney’s newest ship

The longest government shutdown in U.S. history continues to impact the economy.

(LIIAMAX)- The longest government shutdown in U.S. history continues to impact the economy — with two missed monthly jobs reports, delayed inflation numbers, and other key data still pending. If lawmakers finalize a funding agreement, agencies are expected to quickly release the backlog of information, including five weeks’ worth of jobless claims.

Meanwhile, the Trump administration is developing a 50-year mortgage plan aimed at lowering monthly payments. Federal Housing Finance Agency Director Bill Pulte called it a “game-changer,” estimating average savings of $120 per month. However, analysts warn borrowers would pay far more in total interest — and with the average first-time homebuyer now 38 years old, many might never fully pay off their loans.

Markets responded positively Monday as Senate lawmakers advanced a potential deal to end the shutdown. The Dow gained 381 points, while the Nasdaq jumped 522. The stock market remains open for Veterans Day, though the bond market is closed.

A new Talker Research survey shows 60% of seasonal employees rely on holiday jobs to pay for essentials, earning an average of $6,209 over the season. Millennials are the most dependent, with 65% saying they need these jobs to cover bills, compared to 41% of baby boomers.

Finally, Disney Cruise Line has announced the Disney Destiny, its newest ship, will make its maiden voyage from Fort Lauderdale’s Port Everglades. The vessel, themed around heroes and villains, joins the company’s growing fleet and continues Disney’s trend of record performance in its experiences division.