By Kelsey Ramírez
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Near the end of June, Brexit came, then it went and, according to Capital Economics, that’s where the story ends.
No more effect on the housing market, no more lowering the mortgage rates, according to Capital Economics.
In fact, last week, the 30-year fixed rate mortgage edged upward, and the 10-year Treasury yield rebounded sharply, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday.
“The downward pressure on mortgage interest rates from Brexit already appears to be unwinding, with 30-year fixed rates increasing last week from 3.60% to 3.65%,” Capital Economics Property Economist Matthew Pointon said.
“Given we expect Brexit will have a minimal impact on the U.S. economy, we see no reason to change our forecast for mortgage rates to reach ...” Read the post at the Housing Wire website