First Trading Day Of 2015 Brings Good News To Mortgage Borrowers

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After another incremental decrease, mortgage rates are now at 19 month lows. California mortgage company, Blue Home Loans, Inc. comments on the recent rate movement reported on Mortgage News Daily and offers advice for California homeowners and potential home buyers.

It turned out to be a pretty Happy New Year today for those who have been looking for lower mortgage rates, with this first day of trading for 2015 bringing mortgage rates down to the lowest levels they have been at since May, 2013. California full-service mortgage company, Blue Home Loans, Inc., has been helping clients to gain the maximum amount of savings on their home loans 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 company takes a look at the January 2nd report from real estate news website, Mortgage News Daily, which says, “Mortgage rates improved significantly to kick off the new year. The gains are a combination of actual improvement in bond markets and lenders lowering their guard from conservative holiday pricing strategies. In other words, lenders had been holding back a bit during the holidays. That's normal and we'd discussed it as a factor. And now, not only are those conservative strategies fading, but underlying bond markets (which drive mortgage rates) are improving to boot.”

That same report continues, “The positive double-whammy brings rates in line with--or lower than--anything else in the past 19 months. The most prevalently-quoted conforming 30yr fixed rate for top tier borrowers is now easily 3.875% and an increasing number of lenders are at 3.75%. All that having been said, it's important to keep in mind that markets aren't fully back up and running in terms of participation and volume. While the holidays are behind us, many market participants won't be back in the office until next week. We'll have to wait until then to see if today's strength is the start of a new trend.”

Blue Home Loans explains that this turn of events is great news for the borrowers out there who have been waiting for an opportunity to save on their home loans. Both those who have been thinking of purchasing new homes and those who missed out on refinancing their mortgages before rates started to rise in 2013 may find that today’s mortgage rates are just the signal they need to start seriously considering applying for a new home loan. However, while the loan company is cautiously optimistic about mortgage rates at the start of 2015, as the MND article points out, there is no way to tell if this new trend has lasting power until normal trading levels resume next week.

Because of this, and also because rates are expected to go up later in the year due to the upcoming Fed rate hike, the California mortgage company’s advice for potential borrowers is to start their home loan application process as soon as possible so that they will be poised to lock in any gains in the coming weeks or months (if they choose to float that long) or quickly lock in their rates if the trend starts to reverse.

California borrowers who want to be sure that they benefit from the best California mortgage rates will find that they can count on the mortgage experts at Blue Home Loans 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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