The average interest rate for a 30-year, fixed-rate mortgage is moving toward 4 percent after last week’s election and it remains to be seen if it’s a temporary spike or a longer-term trend.
Britain’s referendum on leaving the European Union has caused uncertainty and increased risks to the U.S. economy, but thus far it looks likely to have a pretty “negligible” impact on U.S. growth, the International Monetary Fund said on Tuesday.
In a historic referendum, the people of Great Britain voted to be the first nation to leave the European Union yesterday. Prime Minister David Cameron vowed to step down by October, the value of the pound dropped and financial markets all over the globe began to fall as soon as they opened.
U.S. banks including Bank of America Corp. and Morgan Stanley are warning clients about the potential for extreme price moves as Britain prepares to vote on its membership of the European Union (EU).
