California Mortgage Rates Come Through NFP Victoriously

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

Today’s average mortgage rates actually improved over yesterday’s levels and European market considerations helped California mortgage rates to come through NFP Friday victoriously. 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 at the recent mortgage rate trends and gives some advice for those who have home loan plans for 2015.

The California mortgage company takes a look at the January 9th report from real estate news website, Mortgage News Daily, which says, “Mortgage rates moved lower after this morning's Employment Situation Report, though not necessarily because of it. After 2 days spent correcting from a strong move lower in stock prices and bond yields, markets have had enough. In other words, global financial markets moved one way from December 29th and then the other way on Wednesday and Thursday. That left today as a bit of a wild card.”

The same article goes on to say, “Soon after the big jobs report, it became clear that stocks and bond yields (which are analogous to mortgage rates) weren't willing or able to go any higher. The bounce back in the other direction was fueled by overseas headlines concerning the hostage situation in France. European markets led US bond markets back toward lower rates into the noon hour. When Europe closed, domestic markets were obviously done with that move, but didn't snap quickly back into weaker territory. This allowed many mortgage lenders to drop rates in the early afternoon. The improvements bring rates in line with those seen on Wednesday. These weren't quite as good as Tuesday's, but apart from that, they're the lowest in the past 19 months.”

Blue Home Loans notes that aside from European market considerations, today’s NFP report also showed a lack of income growth, which has the Fed concerned. This could mean that they would potentially hold off on their rate hike until such a time that these numbers improve. While that is something that is still up in the air, what is certain now is that mortgage rates are staying low for now, and could have the potential to dip lower in the week to come. Those who are near to closing can feel good about locking in their current rates, which are near the lowest they have been in 19 months, and those with more time and risk tolerance can decide whether they want to carefully float and see if rates will improve further.

For those who have not yet started their loan process – now is as good a time as there might ever be. With mortgage rates near 1.5 year lows and the Fed rate hike still coming up eventually, those who are ready to start a new home loan would be wise to take the opportunity these low interest rates provide while they last. 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 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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