How Does the Government Shutdown Affect You?

Although the government shutdown is affecting Americans in ways ranging from obtaining a new Social Security card to visiting a national park, the housing market proves to be glimmer of hope. One of the biggest questions is how the mortgage market will react in regards to perspective buyers obtaining loans since 90% of home loans are underwritten, insured or owned by the government and its affiliates.

It’s likely, though, that mortgages will not be affected as new loans will continue to push through and mortgages purchased by Fannie Mae and Freddie Mac will be unaffected. All of this is great news to the home buyer. If you have any other questions or would like clarification, please reach out to us! Have a great day.

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