CA Mortgage Rates Face Off Against Condensed Economic Data Ahead Of Thanksgiving

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Blue Home Loans, Inc. takes a look at recent mortgage rate trends and the outlook for mortgage rates after the Thanksgiving shortened week, as reported by Mortgage News Daily.

Today is the last full day for finance markets to do their thing this week, and really for this month, with no work tomorrow for Thanksgiving and only a half day on Friday. This means that there is real potential for volatility which could push CA mortgage rates one way or the other. Currently, mortgage rates are at the best levels of the month, but this could change very quickly as the day continues. Blue Home Loans, Inc. takes a look at the mortgage rate outlook after the holiday shortened week, as reported by Mortgage News Daily, and offers advice for California homeowners and potential buyers with mortgage plans in the near future.

The November 24th report from MND gives some insight into what to expect this week and going into the first week of December. It says, “Past examples of Thanksgiving weeks vary when it comes to market behavior. There's no major bias toward gains or losses and the volatility doesn't tend to inform the following week's trading. If anything, Thanksgiving weeks have been slightly more likely than not to result in a quick dip or spike that is subsequently unwound in the following week. All that to say that chances are higher that we'll see some sort of break, but history suggests it might not be too meaningful.”

Blue Home Loans notes that mortgage rates broke into the high 3’s yesterday, and those levels could easily be the best levels of the month unless today’s activity brings more positivity for bond markets. There is definitely more domestic economic data coming out today which could push rates either way, but yesterday’s decrease was mostly caused by European influence. That being said, today will still likely see a lot of action. The article quoted above continues,

“Wednesday handily outclasses Tuesday in terms of volatility potential, but neither of the remaining two days even come close. During those two days alone, the volume of economic reports and other scheduled events is higher than some entire weeks. The market closure pushes to Wednesday everything that would have happened on Thursday and some of what would have happened on Friday.”

The advice Blue Home Loans has for those who have not yet started their mortgage applications is that they should really consider doing so quickly. Today’s rates could be higher or lower than yesterday’s but, as the MND article notes, any changes seen this week could be unwound in the following week. Because of this, Blue Home Loans urges California borrowers who have been waiting for a good opportunity to start a loan application to act quickly. Rates are still near the lowest levels seen this year and whether borrowers decide to lock on application or float their rates to see where mortgage rates will move in the month ahead, having a mortgage application in process is the only way to ensure that they will not miss out on what could be the best rate deals this year.

For those who do not want to waste any time looking for the lowest mortgage rates and best home loan options in California, the Blue Home Loans team can be more than helpful. 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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Brandon Blue
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