9th October 2013

Government Shutdown to Impact Thousands of Mortgages

Government Shutdown to Impact Thousands of Mortgages

Now that the shutdown of the U.S. government has entered its second week, it’s expected to slow down mortgage approvals, which could negatively impact housing and economic recovery, Bloomberg reported Oct. 7.

After failing to pass a budget before the end of the fiscal year, Congress forced a partial government shutdown Oct. 2, the first in 17 years. The shutdown resulted in the furlough of around 800,000 government employees.

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