Brexit is now a reality. It is high time to check affects of it on everyday Americans. Call of the day is also to check how it will change mortgage interest rates.
If believed to chief financial analyst at Bankrate, Greg McBride, the mortgage interest rates could drop to record lows in coming weeks.
McBride suggests borrowers to immediately lock the rate as the opportunity may not last long.
However, he does not believe the Brexit would effect in long-term outlook as a rebound from ultra-low rates is possible by the end of 2016.
Chief economist at the National Association of Realtors, Lawrence Yun, said lower rates gesture towards the low confidence in the ability to handle higher rates, and there are several factors to this, both domestic as well as overseas.
A rate of 4.8 percent is being forecasted by December 2017 by Mortgage Bankers Association chief economist Michael Fratantoni.
Early Friday it was announced Britain will exit European Union. This sent shockwaves across global markets and investors started finding safety in gold. Prices of gold have driven up in many international markets.
Share your views what other impacts Americans to experience in coming weeks following the British people have favoured Brexit Friday morning finally after a month of debate and campaigns across United Kingdom. Use the below given comment box.