About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

The world financial markets did not take last week’s British vote to leave the European Union well. Stock markets all over the world tumbled Friday and Monday as the shock waves of the so-called Brexit vote reverberated around the world. The immediate result was investors fleeing stocks and racing to the relative safety of bonds. That rush to buy bonds pushed the yield on the 10 year T-Note lower, and as usual, mortgage interest rates mirrored that move lower. Mortgage interest rates dropped between 1/8 and 1/4 percent between Thursday and Monday. Rates have remained lower so far this week but with a rebound in the US stock markets on Wednesday we’ll see where rates end up for the rest of the month.

The takeaway from this is that now is an excellent time to research a mortgage refinance or a home purchase. Rates are near historic lows and there are several government-backed mortgage programs available. Contact in the sidebar for guidance regarding refinances or on our home purchase page for assistance qualifying for a home purchase loan.

Comments Off on “Brexit” drives mortgage interest rates even lower Posted by G.R.A. Admin on Wednesday, June 29th, 2016

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