From one of our Preferred Lenders:
I am sure you have 100 emails on this by now. Short and sweet, BREXIT means headaches for stock brokers and big smiles for homeowners/home buyers. Click HERE for more on what BREXIT is. It’s not just England by the way – it’s the entire UK which includes England, Scotland, Northern Ireland and Wales.
The simplest way to explain the seemingly distant connection between BREXIT and lower mortgage rates is this:
4 STEPS – WHY RATES ARE BETTER AFTER BREXIT
- BREXIT = instability in the world economy
- World economy instability = investors scared of leaving money in stocks
- Investors scared of leaving money in stocks = investors moving money from stocks to bonds
- Bond demand increase = HOME LOAN RATES DECREASE
The net result – don’t look at your brokerage account and refi or buy a home now. As of today, mortgage rates are about .25% better than yesterday on average (every scenario is different). These are the random/unexpected events that make us mortgage geeks say “you never know what can happen tomorrow with rates.”
Call The HOUSE Team if you or anyone you know wants to refinance, buy or just ask questions about BREXIT and home loan rates.
Jeremy House, The HOUSE Team
PrimeLending, A PlainsCapital Company
Branch Manager/Sr. Loan Officer
Purchase – Refi – Renovate™