CA Mortgage Rates Hit New November Lows – Blue Home Loans Weighs In

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Blue Home Loans, Inc. takes a look at the recent rate movements reported by Mortgage News Daily and offers advice to those with home loan plans in the near future.

Blue Home Loans Inc. is a full-service California mortgage company that has been dedicated to serving the homeowners and buyers of California with honesty, integrity, and competence for many years. The mortgage professionals at the company, lead by father and son team, Robert and Brandon Blue, are known for their ability to find the very best home loan options for their clients along with the lowest wholesale mortgage rates available. Now, with CA mortgage rates hitting new November lows, potential home loan borrowers should be able to benefit from even more savings if they make the right moves.

The November 24th report from Mortgage News Daily says, “Mortgage rates continue making improvements so small and so steady that they're barely noticeable, but they're improvements just the same. That's recently meant that we've technically been in the best territory in nearly a month recently. Despite the fact that it's not materially different than most of the past 30 days, today's rates are officially the best during that time. The most prevalently-quoted conforming 30yr fixed rate remains 4.0% for top tier borrowers, but each day of modest improvement brings us closer to 3.875% and puts 4.125% farther in the rearview.”

Blue Home Loans notes that for top-tier borrowers the best quote for 30 year fixed rate mortgages in California moved from 4.00% yesterday to 3.98% today. This is just a small step down, and most borrowers will not actually see a decrease in their mortgage rate, but instead will be able to save money on their closing costs. However, those who want to take advantage of these new low rate levels may have to act quickly. The MND article continues,

“With the Thanksgiving holiday coming up, financial markets will be cramming a day and a half worth of work mostly into Wednesday. That increases the prospects for volatility over the next 2 days. Indeed, past examples of the 2 days before Thanksgiving suggest we'll see more movement in rates relative to the current trend. Again though, that doesn't take much doing. While past precedent does increase the odds of a bigger move higher or lower, it doesn't suggest that move will necessarily continue after the holiday (about a 50/50 chance that rates continue in the same direction).”

Blue Home Loans explains that this means that there is a chance rates could continue to move in their downward trend, and California borrowers could benefit from even lower rates in the near future. But those who do not wish to take the risk of rates moving away from these lows should definitely consider starting their loan application now and locking in on application or carefully floating while keeping a close eye on market movement or, ideally, having a loan officer who can do this on their behalf who alert them to any important changes.

The team at Blue Home Loans can help California borrowers to quickly process their home loan applications so that they will not miss out on any opportunities to save money on their homes. Not only will the loan officers at the company find borrowers the best possible loan options for their needs, and even the right real estate agent if a buyer is still looking for the right house, but they will also notify their clients of any changes in rate trends that would enable them to lock in the very best California mortgage rates available. This excellent customer service and the wide range of mortgage programs the company specializes in are what have made Blue Home Loans a trusted ally for California home loan borrowers all these years.

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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