Mortgage Rates Finally Catch A Break After 8 Day Losing Streak

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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 had been losing ground for 8 straight days - every business day in February up till this point. But mortgage rates finally caught a break today with slightly improved levels after European headlines and a weaker than expected retail sales report nudged things in the right direction. But will this new direction for mortgage rates gain momentum and bring back lower levels? 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 the near future.

The California mortgage company takes a look at the report from real estate news website, Mortgage News Daily, posted this February 12th, 2015, which says, “Markets hadn't shown rates any love for 8 straight business days--every day in February. That finally changed today, albeit only slightly. European headlines left bond markets (which guide mortgage rates indirectly) in limbo overnight and weak economic data this morning helped trading levels to improve. That, in turn, allowed most lenders to improve rate sheets by a small amount compared to yesterday's latest offerings. 3.75% and 3.875% remain the two most prevalently quoted conventional 30yr fixed rates for top tier scenarios.”

Blue Home Loans explains that while it is definitely a good thing that things have stopped moving up for mortgage rates, the jury is still out as to whether this positivity will be here to stay. Markets will be looking to Europe early next week and headlines from that front will likely decide the fate of domestic mortgage rates. The MND article explains,

“Yesterday's meeting with Greece and its Eurozone creditors failed to produce any change in Greece's current collision course. Officials noted that they'd be working on "something" on Monday, but were clear to say that markets shouldn't get their hopes up. Markets likely won't be too eager to move too far in either direction until there's more clarity out of Europe. That decreases both the risk and reward associated with floating in the short term, though the risks should always be respected if you can't afford to lose any ground if the market moves against you.”

The California mortgage company also explains that with Monday being a holiday, there will be a long wait for those who are holding their breath to see what will happen with mortgage rates now that February is finally showing rates some love. Blue Home Loans advises that anyone who has not applied for a home loan yet should definitely consider doing so soon, since that will put them in the best position to lock in any gains that may be apparent in the weeks to come or, in the worst case scenario, lock in to prevent further losses if rates start to rise again. In either case, California borrowers who want the best chances 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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