Brexit Vote Drives down Mortgage Rates, Results Show

Slow growth in China and the Brexit vote in the U.K. have played a major role in driving down mortgage rates, according to Freddie Mac’s recently released monthly Outlook for July. In the most recent Primary Mortgage Market Survey, the 30-year fixed-rate mortgage fell to 3.41 percent, just slightly above the all-time record low. This is likely to result in a boost in housing activity, particularly refinance, as homeowners take advantage of the current low rates.
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