The housing market has in many reports shown resilience against the threat cast by the shadow of Brexit. Much of that resilience is thought to be fueled by the continued opportunity of homebuyers securing a low interest rate mortgage. While the current interest rates offered are not close to the historic lows of a few years ago, the levels are still well below that which was considered normal before the economic crisis.

Along with the low interest rates are the lower house prices. The expected slowdown led sellers to become more aggressive. To sell they had to be competitive to gain the attention of home buyers. The lower prices also lured first time buyers back to the market.

Lenders have helped beyond the low interest rates. Loan to value levels on mortgaged products evolved to allow smaller deposits which opened the door to more buyers.

The housing market is expected to remain steady and perhaps show moderate growth during the summer months. Summer is a traditional season in which the housing market is boosted. Such information is expected to bring more sellers into the market as well as the expected buyers. The two factors could push the growth of the market during the summer months to surprise levels as has been the case this past spring.

Not only is the boost to the housing market expected to help lift mortgage lending, but remortgage lending is expected to see more demand as well. Again, the opportunity to secure a low interest rate is the reason and why homeowners are interested.

Though the summer months are traditionally a time of boost to the housing market, never has Brexit been a part of the equation. Despite expectations and forecasts, it is still unknown what the data will show when the calendar flips to show that summer has ended and autumn has begun.