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According to recent data, the government shutdown is effecting the housing market negatively. New homebuyers seeking to borrow may be slowed by missing or unattainable information. The president of the MBA, David Stevens said, “the longer it goes, the greater impact it will have on borrowers, the housing market and the national economy. Different loan programs have different requirements, and these disruptions impact lenders in different ways, leading to confusion and fear among borrowers about whether they will be able to close on a home purchase or refinance.” Many banks are searching for a work-around to ensure potential borrowers face fewer obstacles. More here
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