Mortgage rates have yet to react to Britain’s vote to leave the European Union. In a survey of lenders early Friday morning, there was little change in pricing for the most popular home loan terms, though 30-year mortgages edged another one basis point higher, for the sixth day in a row.
With Brits voting for a “Brexit” and global stock markets sinking, investors are seeking the perceived safety of U.S. bonds. Already, the 10-year Treasury price — a proxy for mortgage rates — was moving higher in early trading this morning. But as prices go up, yields go down, and that means lenders will have room to lower their mortgage rates. Adjustments to rate sheets could come as early as later today.
Homeowners looking to lower their mortgage rate can shop refinance lenders here.
NerdWallet compiles annual percentage rates — lender interest rates plus fees, the most accurate way for consumers to compare rates. Here are the average rates for the most popular loan terms:
Mortgage Rates: June 23, 2016
(Change from 6/22)
30-year fixed: 3.76% APR (+0.01)
15-year fixed: 3.11% APR (NC)
5/1 ARM: 3.34% APR (NC)
NerdWallet daily mortgage rates are an average of the lowest published APR for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing a more accurate view of the costs a borrower might pay.
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