CA Mortgage Rates Travel Slightly Higher Ahead Of GDP Report

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Blue Home Loans, Inc. comments on the recent activity in mortgage rates reported by Mortgage News Daily and offers some insight and advice for California homeowners and new home buyers.

Mortgage rates managed to undo some of the damage inflicted by February’s negative trend yesterday and the day before, but today brought a slight comeback for this trend and, as a result, CA mortgage rates traveled slightly higher just a day ahead of the GDP report. 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 activity in mortgage rate levels and gives some advice for those who have home loan plans for the near future.

The California mortgage company takes a look at the report from real estate news website, Mortgage News Daily, posted on February 26, 2015, which says, “Mortgage rates were slightly higher today, undoing the modest gains seen yesterday, but leaving the more significant drop from Tuesday intact. 3.75% remains the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios, though a few lenders will have drifted up to 3.875% with today's weakness. Today's losses were a factor of both data and events. This morning's economic data was mixed, but higher durable goods and real wages overshadowed higher jobless claims. The data started the ball rolling in a negative direction for the markets that affect mortgage rates this morning, and from there, several month-end trading dynamics made for steady losses throughout the day. Particularly, companies issued corporate bonds at a rapid pace this afternoon, and that issuance process can indirectly put some upward pressure on rates.”

The MND article goes on to explain, “Tomorrow's data and events stand a chance to take rates in either direction. At current levels, rates can afford to be receptive to the big data release, which is the 1st revision of Q4 GDP at 8:30 a.m. If the data is much stronger than expected, rates could remain under pressure. If, however, GDP comes in weaker than expected, there's room to improve. Beyond that, it's good to keep in mind that rates won't always move in a logical direction based on the data, and there's more risk of that on the last day of the month where many traders are moving money for reasons that are unrelated to market fundamentals.”

Blue Home Loans explains that even though today saw a slight increase in rates, all hope is not lost yet. As the MND article states, there are still plenty of factors that could affect mortgage rate movement tomorrow, not the least of which is the GDP report. Those who have not yet applied for a home loan might wish to do so as soon as possible and either lock in on application or carefully float past the weekend to see if rates will improve. California mortgage borrowers who want the highest chance of finding the best mortgage rates in California can put their trust in the mortgage experts at Blue Home Loans, Inc.

Co-owner of Blue Home Loans, Brandon Blue, says, “I love the personal satisfaction that I receive when I am able to save my clients both time and money--getting them the best deal I possibly can on their home loan. Whether you are looking to purchase your dream home, or want to save money on your existing home, feel free to give me a friendly phone call. I promise that you will not be given some cheesy sales pitch, and that I will listen to your mortgage needs without utilizing any high pressure sales tactics.”

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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