CA Refinance and Home Purchase Opportunities Abound As Mortgage Rates Reach Their Best Day Since Early May 2013

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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.

Those who missed out on the record-low mortgage rates of 2013 will be happy to know that today brought national average mortgage rates to early-May 2013 levels, a range that was just on the upper end of the refinance boom of mid-2012 to mid-2013. Needless to say, with mortgage rates down to new 20 month lows, CA refinance and home purchase opportunities abound. 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 January 14th report from real estate news website, Mortgage News Daily, which says, “If you have a truly ideal credit profile and loan scenario, a few of the more aggressive lenders are quoting conforming, 30yr fixed mortgage rates at 3.5% today. Almost all other lenders are only an eighth of a point higher at 3.625% for top tier scenarios. This is a rate landscape that hasn't been seen since early May 2013. There's still quite a bit of ground to cover between here and the 3.125%-3.25% rates seen at the end of September 2012, but for all intents and purposes, 3.5%-3.625% was the upper end of the refi boom golden age from mid 2012 to mid 2013.”

Blue Home Loans explains that this rally in mortgage rates has mainly been driven by European market considerations, but today’s release of the U.S. retail sales report for December has also helped to fuel the moved to lower rates. This report came in much weaker than expected. When economic data is weak, bond markets tend to benefit. Mortgage-backed securities (MBS) which most directly inform mortgage interest rates are part of the bond market and so they improved today with the rest of the market, bringing improved mortgage rates in tow.

The MND article also explains, “The big question of the day is whether or not the good times will continue for rates. In a word, yes. But as has been the case for nearly a year now, the good times will only continue until European growth and stability concerns turn a meaningful corner. That's not the sort of thing that will happen in a day or that would be able to be identified in real time. So there will be a period of conjecture when the time comes. All we can know is that we're not there yet. That said, we also know there can and will be head-fakes back toward higher rates even while the broader trend is positive/lower.”

As Blue Home Loans stated previously, opportunities for those who are interested in refinancing their mortgage or purchasing a new home are bountiful right now. But these opportunities might not be available for too long. There is still a possibility that rates could continue to improve, but borrowers would still need to have an active mortgage application in process in order to quickly lock in any gains. California borrowers who want to be sure that they benefit from the lowest California mortgage rates in 2015 will find that they can count on the mortgage experts at Blue Home Loans, Inc. to find them the best rates and mortgage programs for their unique financial situation and home loan goals. 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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