California Mortgage Rates Dip Slightly Lower Again

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California mortgage expert Brandon Blue of Blue Home Loans Inc. comments on the recent dip in rates reported by Mortgage News Daily and gives some insight into how those who are thinking of financing or refinancing a home could best take advantage of today’s low rates.

Blue Home Loans, Inc. is a California-based full-service mortgage company headed by father and son, Robert and Brandon Blue, that has been helping California homeowners and buyers to find the very best home loan options for many years. Now, with news of California mortgage rates dipping slightly lower, yet again, Brandon Blue and the Blue Home Loans team take a look at how those who are searching for the best rates and loan programs can take full benefit of the recent rate decreases.

A November 17th report from Mortgage News Daily gives some further insight into the current mortgage rate trends. It says, “Mortgage rates moved moderately lower again today, setting another new low for the month of November. That said, the movement has been primarily restricted to the upfront costs associated with the same old rates. In other words, the most prevalent contract rates remain 4.0% or 4.125% for top tier borrowers, but the upfront costs for those rates are a bit lower than they were on Friday.”

Blue Home Loans notes that while the trend lower is definitely encouraging, the prevalent movement for mortgage rates has been more or less sideways – much as it has been for most of this year. There has been a very narrow range that mortgage rates have been stuck in, and this was finally broken in October when national averages broke lower to a 3.875%-4.0% range. Rates have crept up a few times since then, but they seem to be holding to the lower side of the greater 2014 range. Sometimes the actual rate will not change, as was mentioned in the quote above, but borrowers will see the decrease or increase in the closing costs on their loan.

Now, for those who are wondering what will happen next – it really is anyone’s guess. Rates could continue moving lower in small moves, or they could jump much higher or drop much lower. But for now, the fact that rates are improving at all is good news. As the article from MND continues, “The bond markets that dictate mortgage rate movement were almost perfectly flat today after some volatility in the morning. While we didn't end up seeing a meaningful attempt to get to stronger levels, simply holding Friday's ground is a positive change.”

Blue Home Loans’ advice to any California mortgage borrowers considering a new home loan would be not too wait too long to get things started. In fact, the sooner borrowers get their loan process moving the better, as it will give them the option of locking in today’s low rates or floating if they feel that rates might move lower before they close on their loan. With rates at the lowest levels they have been all month, it would be a shame to miss out on the savings if levels do start climbing again, so those who do not want to risk losing out should act soon.

Blue Home Loans can help California mortgage borrowers to not only get the best mortgage rate, but the best loan program, lender and even Realtor for their needs. 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 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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