October 4th, 2013 11:45 AM by Eric Fang
Some borrowers sent me emails about the mortgagerates, and some mortgage brokers sent to the clientsas well saying that the interest rate will be lowerbecause of the shutdown of the government and theslow of the debt ceiling negotiation process.
And last weekend, one borrower asked me to hold theprocess and told me that the rate will go down a lotbecause of the shutdown.
The rate will not go down unless the shutdown will takemore than 2 months and affect the economy recovery.
I talked to one employee today and he said that he was happy about the closing so that he went fishing at his vacation house.
But the shutdown will indeed affect the closing of theloan, especially when we could not order tax returns,but most lenders will take the returns the borrower submitted this time, until the IRS reopen the door.