Muted Effect (So Far)
If the U.S. government defaults in 10 days and interest rates suddenly go kablooey(!) . . . all bets are off.
But in the meantime, the effect of the federal government shut-down on the housing market appears to be muted.
According to the lenders I work with most often, the main consequence at the moment is that what’s called “Form 4506 results” — confirming the mortgage applicant’s tax returns — are not forthcoming from the IRS.
Effect on deals?
So far, zero: aforesaid lenders are proceeding to closing anyways, with that item to be obtained afterwards.
