It’s been blasted across the news, airwaves, and through social media, and we now know that the Brexit has resulted in record low rates for thirty-year mortgages – but what does it really mean?
In case you’re late to the party, the Brexit was the decision of Great Britain’s vote to leave the European Union.
According to Zillow Porchlight, this random vote caused investors to sell their global stocks and go for U.S. mortgage bonds, which are considered “safer”
But where does it go from here? Zillow says some projections predict a gradual rise with time, but the “growing consensus” is that the low rates may stick around for a while.
Because it’s so unpredictable, speak to your SMC mortgage banker about the best financial move given your current circumstance, whether you’re looking to buy or refinance!