2015 Mortgage Rates Off To A Great Start At 19 Month Lows

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California mortgage company, Blue Home Loans, Inc., comments on the recent rate movement reported by Mortgage News Daily and offers some insight for California homeowners and potential home buyers.

It looks like 2015 mortgage rates are off to a great start at 19 month lows, with the national average rates for top-tier borrowers now at 3.75% for 30yr fixed rate mortgages. California full-service mortgage company, Blue Home Loans, Inc., has been helping clients to gain the maximum amount of savings on their home loans for many years and now takes a look a the recent mortgage rate trends and gives some advice for those who have home loan plans for 2015.

The mortgage company comments on the January 5th report from real estate news website, Mortgage News Daily, which says, “Mortgage rates have fallen substantially in the first week of 2015. While a few of the most aggressive lenders have been able to offer top tier borrowers 30yr fixed rates at 3.75% for quite a while, today is the first day where it's decisively the average rate quote for top tier scenarios. As of yesterday, it was still neck and neck with 3.875%. This is the first time that 3.75% has been the dominant quote since May 21st 2013, one day before the taper tantrum began in earnest.”

That same article also explains, “The move is a result of broader market momentum that was in place in early December. That momentum went on vacation the same time everyone else did, and is simply getting back to business over the past 2 days. It's not unfair to say it owes itself to global growth concerns centered in Europe. Slumping stock markets, falling oil prices, and low interest rates are all merely symptoms of those broader concerns.”

Blue Home Loans notes that while mortgage rates have been improving over the past few weeks, today is the first day when market participation was back to normal levels since the slew of off-days and half-days over the holidays last month. This is encouraging because rates could easily have gone the other way on the first “official” day of trading in the year. Luckily today saw last month’s rally come back in force, resulting in great low rates for borrowers everywhere. However, the California mortgage company warns that those who are holding out for even lower rates should be very, very cautious.

Mortgage rates have had some very solid gains over the past week and there is always a risk that they will bounce back to higher levels at a moment’s notice. Those who are currently floating their mortgage rates should be aware that the upcoming Non-farm Payrolls report will likely have a noticeable impact on mortgage rates for better or for worse, which increases the risk of continuing to float.

Because of this, the Blue Home Loans team advises that locking in now is not a bad idea at all, but risk takers who are still waiting for lower rates should be ready to lock in quickly if it looks like things are starting to take a turn of the worse. Those who have not yet started their loan applications will probably want to get things moving pretty soon, as well, since mortgage rates are experiencing record lows right now, but there is no telling how long this will last, especially with the Fed’s impending rate hike later this year.

California borrowers who want to be sure that they benefit from the best California mortgage rates in 2015 will find that they can count on the mortgage experts at Blue Home Loans, Inc. to find them the best rates and mortgage programs for their unique financial situation and home loan goals. The Blue Home Loans website states,

“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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Brandon Blue
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