The Beatles invasion. Brexit. Both events had and will have a profound affect on America.
How will Brexit affect Las Vegas homeowners, buyers and sellers? Economists like Greg McBride of Bankrate predicts US mortgage rates will sink to new lows now that Britain is leaving the European Union.
So how low is low? In May the 30-year fixed rate hovered around 3.7 percent. I'm guessing rates will fall to 3.6 or 3.5 percent. Maybe lower.
The same economists predict rates will rise after things shake out and hit 4 percent or higher maybe by November.
Of course, if economists really knew what they were talking about, they would be investors richer than Warren Buffet. Still, I think their advice is worth heeding.
If you are thinking about buying a home, do it now if you are not paying cash! If you are considering refinancing, ditto.
Sellers, put your home on the market ASAP. We have low inventory in Las Vegas. There soon will be a horde of savvy financial buyers!
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