Source: Bloomberg
Washington and the country are bracing for a prolonged government shutdown – which went into effect October 1 – as Congressional Republicans’ continue to exert pressure over the nation’s health care law. Republicans’ are seeking to defund or delay the Affordable Care Act, albeit at the expense of the country’s economic recovery, as an impasse over funding the government takes hold at the Capitol. It remains to be seen whether the government shutdown will be short-lived, but it is expected to dampen the housing recovery and disrupt mortgage processing through delays.