U.S. Mortgage Rates Slip After Great Britain’s Announcement to Leave European Union

Great Britain’s recent decision to leave the European Union (EU) could push U.S. mortgage rates to historic lows. They were already at a 3-year low, but immediately after the Brexit announcement, they dropped further and have continued to over the last few days.

Weekly national mortgage survey

Results from Bankrate.com’s most recent weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:

30-year fixed 15-year fixed 5-year ARM
This week’s rate: 3.69% 2.94% 3.05%
Change from last week: -0.05 -0.06 -0.08
Monthly payment: $758.53 $1,134.70 $700.10
Change from last week: -$4.67 -$4.76 -$7.17

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While rates might continue to decline, analysts don’t guarantee it will last much longer. If you want to take advantage of these lower rates, don’t miss this opportunity. Connect with a Realty Austin REALTOR® and lock in a great rate today.

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