California Mortgage Rates Finally End 7 Day Winning Streak

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Blue Home Loans, Inc. comments on the recent mortgage rates trends reported by Mortgage News Daily, and offers advice for California homeowners and buyers with home loan plans in the near future.

Blue Home Loans, Inc. is a full service California mortgage company that has been dedicated to helping California home owners and buyers to save money on their home loans for many years. The team of mortgage professionals, lead by father and son - Robert and Brandon Blue, is experienced in handling a wide range of mortgage programs and is committed to serving its clients with honesty, integrity, and competence. One of the services that the company offers its clients is monitoring financial markets on their clients' behalf so that they will be well informed of the best times to lock in a great mortgage rate. Recently mortgage rates had been going down, but today California mortgage rates finally ended a 7 day winning streak.

The Blue Home Loans team looks to real estate news website, Mortgage News Daily, which gives insight into today's events and also some information on what might be in store for California home loan borrowers in the near future. The MND report, posted December 2nd, says, "Mortgage rates finally ended a 7-day winning streak today, moving higher for the first time since November 19th. The losses were not insignificant either, erasing the past 4 days of steady improvements. All that having been said, the bottom line could still be much worse. Some lenders are still competitively-priced at 3.875%, meaning a top tier borrower and scenario would be quoted 3.875% for a conforming 30yr fixed loan. Others, however, moved up to 4.0% today after just having made it down to 3.875% yesterday. The average lender is now somewhere in between."

The same article explains that a number of things that caused rates to go back up after such a strong move down. There is no one thing that caused rates to rise and no simple explanation provided by the current information available. However, the MND article notes that, "The biggest considerations are those that aren't readily observed or reported. They include things like corporate bond offerings and other tactical trading designed to bolster year-end balance sheets. "

Blue Home Loans notes that while rates are not headed down anymore, they are still in pretty good territory for most borrowers, but this could be only for the time being. This new trend could continue, and California mortgage rates could start heading up again for the rest of this year - or they could correct themselves and start heading back down, or at least stay at more favorable levels. The next few days will give a clear hint of what is in store. The MND article explains, "The next three days bring events that are much more significant than anything we've seen so far this week. If they're friendly enough, they could counteract some of the underlying weakness we're seeing here, but if they're unfriendly, the combined effect could be ugly. It doesn't make much sense to bet against the prevailing momentum until it's clearly run its course."

The team at Blue Home Loans can help California borrowers who do not want to risk rates going any higher to quickly process their loan application and lock in today's lowest mortgage rates, or carefully float their rates, with their loan officer keeping an eye on rate movement, if they feel rates might improve over the next few weeks. In either case, the mortgage company can help their clients to find the best possible rates and home loan programs so that they will be able to save the maximum amount of money on their homes. 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 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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