Brexit pushes mortgage rates near record low

brexit

The Brexit vote sent mortgage rates plummeting, loan giant Freddie Mac said Thursday. The average rate on a 30-year mortgage is 3.48 percent, the lowest since May 2013 and just above the all-time low recorded in 2012.

“In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points,” Sean Becketti, Freddie Mac’s chief economist, said in a statement. “This extremely low mortgage rate should support solid home sales and refinancing volume this summer.”

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