Mortgage Rate Trend Index Down: June 23, 2016
Will rates go up, down or remain unchanged?
Vice president of capital markets, CMG Financial, San Ramon, California
The past couple of weeks have seen a slow decrease in mortgage rates as the 10-year continues a much steeper descent than expected. The Fed opted not to raise rates this month and the chances of it occurring next month have dipped significantly due to foreign economic issues. The UK votes this week in regards to a possible exit from the European Union; consequences are completely unknown and most expect a larger-than-normal economic reaction, no matter how the vote swings.