CA Mortgage Rates Continue To Hold Near Long Term Lows – Still Room For Improvement

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

While yesterday brought volatility to the bond markets that underlie mortgage rates, today was surprisingly calm, with only small, measured doses of activity throughout the day. The result is that mortgage rates were about the same or just slightly higher on average than the day before, with CA mortgage rates continuing to hold near long term lows. 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 January 29th, 2015, which says, “Mortgage rates were steady to slightly higher today on average. Some lenders were actually slightly lower, but they were the exception. In contrast to yesterday, the bond markets that underlie rate movements were exceedingly calm, and what little movement there was came in measured doses. This sort of low-altitude, sideways bounce is a fairly common occurrence following a bigger move lower in bond markets.”

Blue Home Loans notes that while mortgage rates were unchanged or higher today, there could be room for improvement in the days ahead. The article from MND explains, “The distinction between bond markets and mortgage rates is important here, because mortgage lenders haven't been able to pass along all of the gains implied by trading levels. If markets manage to calm down a bit, that means rates have some room to improve even if trading levels simply hold steady. That process can only happen gradually over multiple days and could easily be thrown off by more volatility. Even if rates held steady, they'd be doing so essentially right in line with the best levels since early May 2013. 3.625% remains a widely-available conforming 3yr fixed quote for top tier scenarios and several aggressive lenders are at 3.5%.”

Blue Home Loans explains that California homeowners who were not able to refinance in the last “refinance bubble”, or those who are looking to trade up and move to a better home, have a great opportunity right now to do so. Mortgage rates have not been this low for over a year. With these low rates, the improved credit health of many borrowers, and a recovering housing market making positive equity a thing again, many current homeowners in California are in an excellent position to grab a great deal on a new home loan.

First time home buyers are also in luck, as Fannie Mae and Freddie Mac both rolled out a 3% down payment option for qualified borrowers, and those who do not have perfect credit (and even those who do) will find that FHA loans are now much more attractive with their reduced mortgage insurance premiums. In all, right now is a great time for California home buyers, especially in areas like Orange County where home prices are stabilizing and new housing developments in Lake Forest, Foothill Ranch, Mission Viejo, and other areas make finding the right home for the right price a lot easier. Those who are interested in buying property in these areas, or anywhere else in California, or who are interested in finding out if they can improve their current mortgage terms can call the Blue Home Loans team of mortgage experts for a free consultation.

Company co-owner, 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 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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