San Diego, CA (PRWEB) April 25, 2014
Rates bobbed up and down this week, but today saw average mortgage interest rates reach their best levels for the whole week. Will rates continue to improve going into next week? Blue Home Loans, a California full service mortgage company that has recently updated their services and resources, comments on the current mortgage rate trends and gives some advice for those who are seeking the best possible rates and mortgage loans.
An April 25th article from Mortgage News Daily explains, “Mortgage rates moved lower today, reaching their best levels of the week. Slumping stocks and geopolitical concerns contributed to positivity in the bond market, and when bond markets improve (specifically "mortgage-backed-securities," or MBS), rates generally move lower. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains at 4.375% in most cases. While this is the same rate as yesterday, the cost to obtain it is lower. If we express that cost improvement in terms of rates, it comes out to a drop of roughly 0.03%.”
The same article also says, “When we talk about "geopolitical risk" moving financial markets, and consequently mortgage rates, the current focus is naturally on the situation in Ukraine. Markets have a tendency to assign too much importance to such events when it comes to motivating trading levels. It's not that the events lack importance, simply that they end up accounting for more of the change in rates than their economic consequences justify. This goes hand in hand with the events being relied on as the primary explanation for market movement at most media outlets.”
Blue Home Loans, Inc. explains that the major consideration this week has been the headlines coming out of Ukraine. The reason for this seems to be the lack of any other strong motivating factor for mortgage rates to move up or down this week. However, next week will see the very important FOMC policy announcement, and this will certainly have a much bigger affect on the way interest rates move. So which way are they going? It is impossible to tell, but the California mortgage company advises that the best course of action would be to lock in for borrowers that are close to closing on their loans, and even new borrowers can take advantage of the situation by locking on application with a borrow that allows for renegotiation.
Blue Home Loans, Inc. can help borrowers within California who wish to lock in the lowest mortgage rates to find the best possible lenders and loans for their situation and work quickly to get approved so that they can avoid higher rates down the line. Their fast online loan application and documentation portal makes it easy for clients to submit their application and keep track of their loan’s progress. With a reputation for fast, reliable and courteous service, the company’s team of experienced loan officers can be especially useful during this time.
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.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365