So, The Brexit Disaster Just Gave You The Chance To Get A Lower Interest Rate For A Mortgage Or Refi

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If you haven’t already seen the dozens of articles flying around on the internet about Brexit and Mortgage Interest Rates, Here Is the Scoop.

Because of Brexit, Mortgage Rates are back near all-time lows again!  According to NAR, mortgage rates temporarily fell because the global uncertainty related to the Brexit disaster.  People want to purchase US Government Bonds thus lowered interested rates on long term bonds, then lower interest rates.   Safe investments are always in demand in times of uncertainty.  Since US Treasuries are in high demand, they yield less interest and mortgage rates are tied to these rates.

“Bankrate.com, which puts out a weekly mortgage rate trend index, found that more than half of the experts it surveyed think rates will continue to fall in the coming week. If Friday’s employment report disappoints, home loan rates could slide into record territory.” (Quote from the Washington post)

But take advantage soon, because eventually interest rates will be raised by the Federal  Reserve in the near future most likely.

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Sources:

National Association of Realtors

Bankrate

Freddie Mac