California Mortgage Borrowers Benefit From Rates Now Back In The High 3's

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Blue Home Loans, Inc. takes a look at the recent rate movement reported by Mortgage News Daily and offers some insight for those with mortgage loan plans in the near future.

CA mortgage rates have been steadily inching lower for much of November and today’s decrease just so happened to inch into territory not seen since mid-October, when mortgage rates finally broke lower than 4.0% before creeping back up again. As of today, top-tier California mortgage borrowers can benefit from rates averaging in the high 3’s. Full-service California mortgage company, Blue Home Loans, Inc., takes a look at the factors surrounding these new lower rates, as reported by real estate news website MortgageNewsDaily.com, and offers some advice for those who are wondering how they should proceed with their home loan plans.

The MND report from November 25th says, “Mortgage rates fell more today than in recent days. Positivity was fueled chiefly by European bond market strength as serious growth concerns persist and rates push ever-closer to their mid-October lows. Domestically, a strong 5yr Treasury auction helped ignite an afternoon bond market rally that included mortgage-backed securities (MBS). When MBS improve enough in the middle of the day, lenders often release new, stronger rate sheets. This was the case today, and the improvements were good enough to bring 3.875% into the running for the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios.”

Blue Home Loans notes that those who have been waiting for low enough rates to start a loan application should probably take this break into the 3% range as a very good opportunity. There is still a chance that rates could go lower, but those who do not want to miss out on potential savings should be aware that these new low rates may or may not last. The loan company’s advice for those who have not yet started a home loan application is to get things going as soon as they can and either lock in their rate immediately or carefully float with an eye on rate movement and a finger on the trigger in case rates show signs of moving back up again.

The article quoted above gives some further insight into the situation. It continues, “As of this afternoon, it's just barely edging out 4.0%. That's the first time we've seen the most common top-tier rate quote in the 3's since October 21, and one of only a handful of times since May 2013. The takeaway is that rates are very strong here, and while further improvements are just as possible as not, they're also more worth protecting if you have the ability to lock. That's the suggestion made by past precedent anyway.”

The mortgage professionals at Blue Home Loans, lead by father and son team, Robert and Brandon Blue, are experts at finding the perfect loans for their clients and ensuring that they benefit from the lowest California mortgage rates available. Whether borrowers decide to lock on application or float their rate with a Blue Home Loans loan officer keeping an eye on rate movement on their behalf, the mortgage company will work quickly and efficiently so that their clients will be able to save the maximum amount on their home loans. This excellent customer service and the very wide range of home loan programs the company specializes in are what have made Blue Home Loans, Inc. a trusted ally for California mortgage borrowers for 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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