government shutdown

Turmoil in Congress is making headlines, but will it impact the economy – and the mortgage industry – more broadly? The House this week voted 216 to 210 to remove Kevin McCarthy (R-CA) from his position as speaker. He was the first speaker to be ousted through a vote in the middle of a congressional term. No new speaker has been appointed, though several Republicans have put themselves in the running. “It’s uncharted territory because we’ve never done that in the history of the United States,” Matthew Green, a politics professor at Catholic University, told CBS News. The short-term impact of this week’s turmoil has been felt immediately in the mortgage market. Redfin Economic Research Lead Chen Zhao said that…