CA Mortgage Rates Remain Flat Ahead Of Yellen Testimony

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Blue Home Loans, Inc. comments on the recent activity in mortgage rates reported by Mortgage News Daily and offers some insight and advice for California homeowners and new home buyers.

Mortgage rates were unchanged on average today despite trading levels being in better territory than last Friday. With CA mortgage rates flat ahead of Fed Chair Yellen’s testimony it remains to be seen if rates will continue to push higher or return to friendlier territory for mortgage borrowers. 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 activity in mortgage rate levels 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 February 23rd, 2015, which says “Mortgage rates ended the day in almost perfectly unchanged territory versus Friday's despite trading levels improving in the secondary mortgage market. In other words, the mortgage-backed-securities that dictate lender's rate sheets suggested a modest improvement--an improvement that we're not really seeing. That said, of the few lenders who moved today, most have moved slightly lower. The most prevalently-quoted conventional 30yr fixed rate remains 3.875% for top tier scenarios, though 3.75% is certainly not unheard-of.”

Of course, Blue Home Loans explains, rates remaining more or less unchanged is much better than them moving higher, but the lack of improvement (when there is clearly justification for slightly lower rates) can feel frustrating. The MND article goes on to explain,

“The rationale for the conservative approach can vary from lender to lender, but several factors are likely in play. First and foremost, volatility will always hurt lenders' ability to move mortgage rates in proportion to the rest of the bond market. The higher the volatility, the more expensive it becomes for the lender to protect against changes in rates and consumer decisions with respect to locking and floating. Although today was a fairly calm session during domestic hours, overnight movement completely reversed a strong move in the opposite direction on Friday afternoon following news regarding the Greek bailout extension. Today's move was partly based on that bailout extension looking more tenuous after this weekend failed to advance it to its next anticipated step.”

Blue Home Loans explains that while the focus has been on Europe when it comes to looking for motivation for mortgage rates, domestic events can still carry a lot of weight. Tomorrow Fed Chair Yellen’s first day of her two day congressional testimony will start and these testimonies have big market moving potential as investors look for clues about upcoming Fed policy changes. Needless to say, those who are interested in finding the best rates should be tuned in to these upcoming events. The California mortgage company also advises anyone who is planning on taking out a home loan to apply for one as soon as possible. This will put them in position to lock in their rate at a moment’s notice if rates improve or start getting too high to risk continued floating.

In either case, California mortgage borrowers who want the highest chance of finding the best mortgage rates in California can put their trust in the mortgage experts at Blue Home Loans, Inc.

Co-owner of Blue Home Loans, 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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