Updated on June 24, 2016 10:43:35 AM EDT
Well, the Brits did it. Surprising many in the financial world, Britain voted to break away from the European Union. That has caused turmoil in the global markets with stocks getting crushed in every relevant open exchange. This is great news for mortgage shoppers because scared stock investors usually shift funds into bonds for safety, hence the huge rally in U.S. bonds this morning. It also makes a Fed rate hike late next month highly unlikely. It also raises the possibility of them not acting the rest of the year.