interest rates: The British are Leaving, The British are Leaving! - 06/24/16 05:15 AM
They did it!  The British voted to exit the European Union (aka Brexit), which many experts predicted was unlikely.  What they also predicted is that if Great Britain did vote to leave, it would throw the global economy into a tailspin and cause stocks to plummet.  And that is exactly what we saw happen in the wee hours of this morning in light of the news the British voted 51.9% to 48.1% to leave the EU.
Ironically, what this means for us in the mortgage business is that such negative news has had a very positive effect on the bond market and, hence, mortgage interest rates. … (0 comments)