Brexit pushes mortgage rates near record low


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.”

Reader Comments 0

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Basic HTML is allowed. Your email address will not be published.

Subscribe to this comment feed via RSS