Government Enters Shutdown

The federal government officially shut down at 12:01 a.m. today, October 1, as Congress failed to pass a funding measure to keep the government open. As a result, many services have been stopped or slowed and federal government employees deemed nonessential will be furloughed. As the federal government operates with reduced capacity, there could be disruptions to some FHA and VA loans; and a pause on USDA rural housing loans is expected. Similarly, the National Flood Insurance Program will not renew or sell new flood insurance policies. For more information on how a government shutdown could affect REALTORS®, see NAR’s resource.