The debate over whether Great Britain should remain in the European Union will be voted on tomorrow leaves many Americans wondering how a British exit (or "Brexit") might affect the U.S. economy.
The Washington Post's Ylan Q. Mui details three important ways the change could have implications for Americans. One of them has to do with something of great importance to U.S. builders: the mortgage system.
“A U.K. vote to exit the European Union could have significant economic repercussions,” Fed Chair Janet L. Yellen said Tuesday.
At the same time, Brexit has spawned the recent bout of volatility in global financial markets. That has anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates.
That all translates into ultra-low mortgage rates for American households. And if Britain votes for Brexit, they could go even lower.