Meanwhile, 51% of Americans said the shutdown hasn’t changed purchase plans, down from 64% in early October.
There had previously been some optimism that the shutdown might end this weekend. However, as of Friday afternoon, no concrete agreement had been made to end the impasse, which set a record for the longest shutdown earlier this week.
Senate Majority Leader John Thune said earlier today that “the wheels came off” talks with Democrats. The House of Representatives has been out of session for eight weeks so far.
Ripple effect on purchase timelines
For mortgage professionals, the data signals a growing reluctance among potential buyers. One in five Americans (21%) are now actively delaying major purchases, up from 17% a month ago. Additionally, 15% have canceled plans altogether, more than doubling from 7% in October.
The shutdown’s impact isn’t limited to purchase decisions, with 46% of Americans saying it’s negatively affecting their lives. Of those affected, 16% describe the impact as “major” and 30% as “minor.”