Economy is Down & so are Rates 📉 #mortgage #residentialmortgage #governmentshutdown

Imagine the longest shutdown in government history helping your mortgage. Wait, how does a weakened economy help my mortgage rate? Oh, what's been going on is the government's been shut down, going on five weeks now. That's coming upon the longest shutdown ever on record for the U.S. government. What this means is, you know, for example, TSA workers are out of work. Air traffic control workers are out of work. That's a big impact to the travel sector of the economy. SNAP benefits are no longer renewed as of October 31st. So think of it. One out of every eight Americans are on food stamps. They're not getting those right now. So if they're not getting money for food, certainly not spending money on frivolous things, that weakens the economy. Silver lining is historically, a weakened economy always helps mortgage rates. Mortgage rates go down with the economy. So while this is a tough time, we're not making light of that. There is some financial gain for those that are looking for a home loan, looking to purchase or refinance. So this is something to keep your eye on that you could possibly take advantage of. We'll be keeping you updated if you found this helpful. Follow for more tips on getting your best home loan.