CA Mortgage Rates Holding Steady Near 2014 Lows

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Blue Home Loans, Inc. comments on the recent mortgage rate movement reported by Mortgage News Daily and offers some insight for California homeowners and potential home buyers.

Mortgage rates were more or less unchanged yesterday, with CA mortgage rates holding steady near 2014 lows. Blue Home Loans, Inc., a full service California mortgage company that has been helping its clients to find the best home loan programs, the lowest wholesale mortgage rates, and the highest possible savings on their homes, takes a look at the factors surrounding current mortgage rates and offers some advice for those have home loan plans for the near future.

Mortgage News Daily’s report for December 15th says of the situation, “Mortgage rates held steady today on average, but were slightly higher or lower depending on the lender. In either case, there hasn't been much movement from Friday's latest rate sheet offerings. That leaves 3.875% intact as the most prevalent conforming 30yr-fixed quote for top tier scenarios. 3.75% is very close and 4.0% is now clearly in 3rd place. 15yr loans haven't been performing as well recently--gaining less ground on good days and losing more on bad days compared to their 30yr counterparts.”

So what is keeping mortgage rates precariously perched at their current levels. The same article from MND continues, “The financial markets underlying mortgage rate movement continue coping with an abnormal set of variables. While there may not be any true "normal" when it comes to markets, there are certainly more 'average' times which account for 80% or so of past precedent. During those average times, interest rates take a majority of their cues from the incoming economic data. There were several economic reports this morning, but markets instead followed market drama overseas. This helped bond markets (which have the most direct effect on loan rates) battle back to Friday's best levels in the morning. Once overseas markets were closed, domestic bond markets began weakening again, preventing lenders from dropping rates any further.”

Blue Home Loans explains that while European markets have been affecting mortgage rates to a great degree, this does not mean that borrowers should ignore domestic economic data, which can still be a big motivator when it comes to mortgage rate movement. Those who are getting ready to lock in their rate soon should keep an eye on this, especially after Wednesday’s FOMC announcement, after which there may be a greater risk for rates to bounce back up again, even if they do get lower in the long run.

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 money on their loans. As 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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Brandon Blue
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