Mortgage rates haven’t been this low in three years

June 30, 2016 2:46 PM

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Mortgage rates haven’t been this low in three years

The stock market’s plunge following the Brexit vote was bad for most people’s retirement accounts but good for those looking to refinance their mortgage. Even as the market has started to recover its losses and the flight to bonds’ safety has eased, home loan rates remain down.

Despite the low rates, growing pessimism over the direction of the economy is spilling over into home-purchase sentiment. Pending home sales – those deals that are under contract but have not closed – declined in May, marking their first annual drop in nearly two years. Rates may be low, but not man...

Also read: Azeri cbank head says could revise rates next year

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