Government shutdown affects mortgage market

As the government shutdown continues day after day, the effects of the shutdown are beginning to reach further than the streets of Washington, DC.  All around the country people are beginning to feel the rippling effects of the shutdown including the mortgage market.  If the shutdown persists, lenders may lower mortgage rates even further to attract more business; however, with key government offices closed, closing on that low-interest mortgage may not be possible. Lenders cannot verify income through the IRS and anyone waiting on an FHA approved loan will be out of luck as FHA case numbers will be impossible to get.

For more read, “4 Ways Government Shutdown Affects New Mortgages.”