Brexit Could Drop Premiums to Historic Lows | ZING Blog by Quicken Loans
We’ve been hearing about it for weeks. Can the British get away from (Brexit) or remain in the european countries? This week, the Anyone.K. voted to leave the EU. Allow me to share the implications regarding mortgage rates and how you can benefit.
Early Friday day time, the citizens from the United Kingdom voted to get away from the European Union. In the last 1 day, there has been significant uncertainty in the financial markets, since the fate of one in the largest market economies in the world is up in an airplane. You might not want to look at the 401(k) today, however in this time of discord, there comes terrific opportunity to refinance or perhaps purchase a home by using a low interest rate.
Interest rates are currently at three-year levels. With the uncertainty that accompanies the Brexit, the stock market is taken a significant hit. This may drive investors to buy more bonds, that can be considered safer compared with stocks. And as this happens, bond prices improve and interest rates are anticipated to go down.
How This unique Affects You
This is a great chance of those in the market for a mortgage. Because of lower rates of interest, you can potentially help save thousands of dollars over the lifetime of your loan. There is no superior time to move forward with a mortgage than right now.
Opportunity as well as Urgency
With chaos in the financial markets and stock values cutting down, it’s easy to panic. But when opportunity strikes, maintain a cool head and investigate today’s rates these days!