BREXIT! How May This Affect Us?
Frankly, more than a little perplexing! The UK has voted to leave the European Union, after 40 years in it! And from a geopolitical perspective, a bit unsettling.
This event may have both positive and negative repercussions...
How could this affect us here in the U.S?
Long term it's hard to say, but short-term one thing is for sure: This move will create UNCERTAINTY and turmoil in the financial markets, as investors will no doubt flee the equity markets and go to safe havens (bonds, gold, etc.)
(You may not want to look at your IRA's and 401K's in the next few months to avoid serious heartburn.)
On the positive side, as demand rises for bonds, mortgage interest rates will likely drop.
- Watch rates carefully!
- it may be worth refinancing your mortgage (yet again) if rates drop significantly
- if you are under contract, the next couple of weeks may be a great time to lock in your loan
- if you are thinking of buying a home, get pre-approved now, call your Realtor and take advantage of this window of opportunity before it closes!
- Think about re-balancing your portfolio to include more real estate! Regardless of what the stock market does, people still have to live somewhere!
We'd be glad to connect you with efficient mortgage professionals and help you find investment properties in Charleston, SC (rated as one of the 10 hottest markets to watch by Trulia in the U.S.).
Call/text us on 843-900-0155.
Have a great Summer!