Brexit Offers Brief Opportunity to Lower Mortgage Interest Rates
Brexit has created concerns for many American citizens, but amid the turmoil caused by Britain’s decision to leave the United Nations one positive benefit has emerged. Lower mortgage interest rates! Interest rates are nearing a three and a half year low since the Brexit decision was made in June (1). But what does that mean for you as a homeowner, or potential buyer?
Current Home Owners
With interest rates lower than they have been in 3 years, this is the perfect opportunity to refinance. Save thousands over the life of your loan, lower your monthly payment, or get rid of mortgage insurance. Have you ever thought about taking money out to make some home improvements? No matter what you are looking for, these low rates make this a great time to act.
What an exciting time to buy a home. Brexit has created a unique situation where you can afford about 10% more home, based on the purchase price (2), with the same income! Get that extra bedroom or a two car garage with the money you save from your lower interest payment.
The Bottom Line
Brexit has created a short term opportunity for you to save thousands of dollars by locking in a historically low interest rate. You deserve to spend more on what really matters and less on your interest rate. Please call me at 435-755-2177 to see how you can save.