Is Brexit and the EU causing panic?
Has the decision of Britain leaving the European Union (EU) caused panic in the housing industry? It may have by urging buyers and sellers to make quicker decisions.
Mortgage rates are lower, the average is 3.46%. These lower rates create greater buying power and why Brexit may have increased the possibility to lock down even lower mortgage rates.
The low rates have been driving up the real estate business the past few years, developing more investors such as wealthier and older households - buying single-family rentals as an alternative investment.
Lower rates also cause stiffer credit restrictions, limiting first-time buyers, but favoring those bypassing financing.
Qualified buyers will be benefiting from the lower rates and builders will be taking advantage with low rates to purchase future land and lots.
If you have any questions on the low rates, contact your Realtor and we'll get you investing in no time.