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A market update from Cornerstone: Brexit could lead to all-time low mortgage rates

Over the past three weeks, mortgage rates have reached their lowest level since 2013 – mainly due to the Federal Reserve’s fear that Britain would vote to leave the European Union. With Brexit now a reality and the global economy facing an uncertain future, rates are likely to remain low. Most people watching the news are asking how Brexit affects mortgage rates back here in the U.S.

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According to experts, investors will seek safer alternatives, like U.S. Treasuries, to protect themselves from financial fallout. And as the demand for U.S. Treasuries go up, interest rates typically fall – which could mean big opportunities for homebuyers.

What about a mortgage refinance? You could get a lower interest rate to save money.

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Brexit may have brought about some big changes, but you won’t know how it affects your finances and your mortgage until you check in with your lender. For all those questions and more, our loan officers are here to help.

For educational purposes only. Please contact your qualified professional for specific guidance.

Sources are deemed reliable but not guaranteed.