Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Government shutdown: Uncertainty looms over mortgage market

Posted on: 01st Oct, 2013 01:47 am
As the federal government shuts down, uncertainty is hovering over the recovering U.S. Mortgage market. The real estate professionals opine that the impact of the government shutdown on the mortgage market will depend upon the timing. It will depend on the time period the time period of budget impasse on Capitol Hill goes on. On the other hand, some experts opine that potential impact of the shutdown will be minimal unless it goes on for a long period of time.
If the government shut-down continues for more than 2-3 weeks, then there are high chances that the mortgage market will face the impacts. The HUD, for the time being, will continue to endorse the new loans but their staff will be reduced to 68 employees only. However, The Department of Agriculture's Rural Development will put on hold on its loan program.
Posted on: 01st Oct, 2013 08:25 pm
A lot of things will depend on where buyers are in the timeline of buying a house and when sales are scheduled to close
Posted on: 02nd Oct, 2013 09:02 pm
Page loaded in 0.098 seconds.