Brexit impacting US mortgages, home-buying

Mortgage bankers and Realtors around the country are bracing for what could be a mini-refinancing and home purchasing boom, and it's all thanks to Brexit.

While there has been some uncertainty in the financial markets in the United States concerning Brexit, one area where there is a huge opportunity is the mortgage market. Experts said they are seeing more refinancing or purchasing of new homes as mortgage rates are near record lows.

According to the Mortgage Bankers Association, mortgage applications are up almost 15 percent from a week ago, and refinancing levels are the highest they have been since January 2015.

Ashley Richardson, a Realtor with Long and Foster, said low rates and a strong market recovery have helped extend the selling season in Maryland, and she doesn't see a slowdown.

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