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Brexit’s residential boon

US homebuyers are seeing new opportunities with interest rates at near-record lows

Illustration by Lexi Pilgrim for <em>The Real Deal</em>
Illustration by Lexi Pilgrim for The Real Deal

From the August Issue: When mortgage interest rates slide close to all-time lows — as they have since the Brexit vote — should one sit on the fence? Or pursue the financial opportunities that didn’t exist when rates were half a percentage point higher or more?

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In July, according to Freddie Mac, 30-year fixed rates dropped to an average of 3.41 percent, just above the historic low of 3.31 percent set in November 2012. Fifteen-year fixed rates, popular with homeowners seeking to become mortgage-free faster, dropped to a stunning 2.74 percent. Five-year Treasury-indexed
“5-1” hybrid adjustables, which carry a fixed rate for the first 60 months then morph into one-year adjustables, hit 2.68 percent. [more]

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BrexitInterest RatesMortgages