Report shows US mortgage rates dropped after Brexit

  • The national average mortgage rate dropped eight basis points to 3.3 percent last week.
  • Foreign investors may begin to use American real estate as a safe haven for investments.
  • Economists anticipate the Federal Reserve holding off on aggressive interest rate hikes this summer.

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Zillow announced the current national 30-year fixed mortgage rate dropped from 3.41 percent to 3.37 percent last week. According to the real estate website, the drop could be partially due to the recent 52-48 referendum vote in the United Kingdom to leave the European Union, otherwise known as Brexit.