Overall, the mortgage industry is only minimally affected by the shutdown.

The main exception is for properties in flood zones that require FEMA’s National Flood Insurance Program, this is particularly relevant in states like Florida and Hawaii.

Additionally, USDA has paused operations as of yesterday, so any purchases in Rural Housing areas using USDA financing will be impacted until further notice.

Nationally, home prices are trending higher, but locally the story can be very different, it all comes down to supply and demand.

Take New Mexico, for example, in some areas homes are averaging more than 100 days on the market. Florida, Texas, and properties in California fire zones are facing similar challenges.

Insurance costs are another major factor. What used to run $100–$150 a month in many areas is now closer to $500+ in high-risk fire or weather zones.

That added cost directly impacts a borrower’s qualification and, in turn, shrinks the pool of potential buyers, making it harder for sellers to achieve top dollar.

Rates are down and our team is ready to pre-qualify you or your clients.

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