Last fall, Inman reported that annual growth in realtor.com’s international listing views from potential buyers in the U.K. “dropped sharply in July, the month after Brexit.” And the downward trend continued in August.
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Brexit may have given a lift to the U.S. housing market by putting downward pressure on mortgage rates. But a study conducted on behalf of Inman suggests it’s also had a cooling effect on international interest in U.S. real estate, particularly from two of the largest sources of foreign demand: Britain and Germany.
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.