San Diego, CA (PRWEB) May 08, 2014
Mortgage interest rates have been at their best levels in six months all this week, and have even very slightly improved today. With these new low levels being sustained as long as they have been, the question most borrowers will be asking now is – will mortgage rates continue at these new low levels or start going back up? Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best rates and loans available for many years, comments on the current situation with mortgage rates and offers some advice for those who are not sure how to proceed with their home loan plans.
A May 8th report from Mortgage News Daily explains, “Mortgage rates added just slightly to yesterday's improvements, inching just a bit lower into the best levels in more than 6 months. The bond markets that dictate rates took their cues this morning from central bankers as the heads of the US Federal Reserve and European Central Bank both offered some reassurance to bond market investors. In the afternoon, a weak auction of 30yr Treasury Bonds prevented any further improvement, but not before quite a few lenders released positively revised rate sheets. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) moved closer to 4.125% for the first time since late October 2013, though 4.25% is very close. Today's improvement equates to an effective drop of 0.02%. If you've been floating a rate for more than a few days, we're getting into levels where it makes a lot of sense to lock.”
Blue Home Loans explains that when it comes to mortgage rate predictions, nothing is ever set in stone. While experts can speculate about where rates will head based on the current information that they have, there are many things that can change along the way and rates might not react in the expected manner when it comes to certain factors. Because of this, the California mortgage company agrees with the MND report in that it might be best for those who have not closed on their loans yet to lock in the current rates.
Those who are near to closing on their home loans should especially consider locking in the currently low mortgage rates available, but even those who have not started their loan process yet can benefit from this advice by locking in on application, preferably with a lender that allows for renegotiation. This will allow them to keep current low rates in reserve while keeping their options open in case something big happens and rates dip lower before their loan closes. Blue Home Loans can help those who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of today’s lowest mortgage rates and save thousands of dollars on their loans. As the Blue Home Loans website says,
“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.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #93836