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California mortgage company, Blue Home Loans, Inc., comments on the current mortgage rates trends and offers advice for those who are seeking the best home loans.
San Diego, CA (PRWEB) August 20, 2014
Mortgage rates continued to move upwards yesterday, rising from the two month lows that were seen at the end of last week. Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best rates and loans available for many years, has been keeping track of these recent mortgage rates trends and now comments on the current situation and offers some advice for those who are not sure how to proceed with their home loan plans.
An August 19th report from Mortgage News Daily gives a fuller story of the situation yesterday. It says, Mortgage rates continued moving higher today after headlines suggested a chance for deescalation in Ukraine. It was the geopolitical risk in Ukraine that coincided with a strong move lower on Friday. Strong economic data also contributed to the weakness as a report showed Residential Construction rose at the fastest pace since November. Economic strength tends cause investors to sell bonds and move to riskier assets. When bonds--like those that dictate mortgage rates--are sold, rates move higher.
The same article also explains, Today's move completely undoes last week's improvement. That said, most of that improvement was seen on Thursday and Friday, so it's not quite as dramatic as it might seem. In fact, with the exception of the last three days, today's rates are still the lowest in over a month. The most prevalently-quoted conforming 30yr fixed rate remains 4.125% for the best scenarios. 4.25% is still quite common and 4.0% is fading from view.
Blue Home Loans explains that because of this new increasing trend, the best course of action for many borrowers would be to lock in their rates and protect themselves from any further losses for mortgage rates. This is especially sound advice for those who are near to closing in their loans, as there it is not very likely that rates will recover before they will be forced to lock in.
Those who have more time on their hands may choose to float, but should also consider that todays rates, while higher than last week, are still near the lower side of http://www.blueloanser vices.com/fast-quote/?PRweb/?var=PR-mortgageratesmoveupward [mortgage rates in 2014 __title__ ]. For those just starting their loan process, locking in on application is always an option, but they might wish to do this with a lender that allows for renegotiation in case rates have a chance to improve before their loan closes.
Blue Home Loans can help California borrowers who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of todays lowest mortgage rates and save money on their loans. As the Blue Home Loans website says,
"We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs."
For more information on how Blue Home Loans can help California home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueHomeLoans.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
California Bureau of Real Estate -- BRE #01938557 NMLS #1162386
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