Mortgage Rates End First Day Of Week At Same Levels As Friday

San Diego, CA (PRWEB) June 23, 2014

After a morning of slight improvement mortgage rates went back up to the same levels that were offered at the end of last week. Despite a few economic reports today, bond markets did not budge, so the morning’s improvement is probably due to late-comers passing on bond market gains from late last Friday. Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best rates and loans available for many years, has been keeping track of these recent mortgage rates trends and now comments on the current situation and offers some advice for those who are not sure how to proceed with their home loan plans.

A June 23rd report from Mortgage News Daily gives a rundown of the situation. It says, “Mortgage rates were slightly lower this morning, but moved higher in the afternoon, ultimately matching Friday's latest offerings. Despite some economic reports in the morning, bond markets were quiet. Motivation for the improvement in rates could be partially due to lenders being hesitant to pass along Friday's late-day bond market gains in the form of lower rates. In other words, lenders had some room to improve, but waited until this morning to do so. As market conditions deteriorated in the afternoon (i.e. prices of mortgage-backed-securities falling), lenders issued reprices, bringing rate sheets back in line with Friday. Some lenders remained in slightly better territory while others were slightly weaker. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains 4.25%, but 4.125% is becoming viable once again.”

Blue Home Loans explains that rates have been unwilling to move out of a very narrow range for some time; even resisting pressure from scenarios that would usually result in a bigger movement for mortgage interest rates. While this could continue to be the case, there is also a chance rates could start moving out of these levels as well. Because of this, the California mortgage company stresses the importance of staying in close contact with a loan officer who keeps an eye on the markets. This would especially be important for those who are near to closing on their loans, as even a temporary increase could mean losing the gains seen so far, and those who are very near to closing on their loans – 15 days or less – should consider locking in the current rates to avoid potentially higher rates down the line.

Even those who have not started their loan process yet can benefit from this advice by locking in on application with a lender that allows for renegotiation. This will allow them to keep current low rates in reserve while keeping their options open in case rates dip lower before their loan closes. Blue Home Loans can help California borrowers who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of today’s lowest mortgage rates and save thousands of dollars on their loans. 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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