Mortgage Rates Moderately Higher To Start Week

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California mortgage company, Blue Home Loans, Inc., comments on the current mortgage rates trends and offers advice for those who are seeking the best home loans.

Mortgage rates moved slightly higher today, bringing them back in line with last Wednesday’s rate sheets. 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, has been keeping track of these recent mortgage rates trends and now comments on the current situation and offers some advice for those who are not sure how to proceed with their home loan plans.

A June 9th report from Mortgage News Daily explains the current situation. It says, “Mortgage rates rose moderately today. Market conditions were exceptionally quiet and after trading opened in the secondary mortgage market, there was almost no movement for the rest of the day. This follows 2 days at the end of last week that also realized very little of their rate-movement potential, though they did see some volatility. Unsurprisingly, that leaves rates very much in line with Wednesday's--the day before the volatility showed up.”

The same article continues, “In other words, financial markets braced for bigger impact from last week's European Central Bank Announcement and the Employment Situation report. While there was a decent amount of back and forth movement, rates ultimately leveled off as if those events never even happened. The most most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) is back to 4.25% with today's weakness, though 4.125% remains close. Some borrowers will still see the same rate as was quoted Friday, but with higher closing costs. The increase equates to 0.04% in terms of rate. Last week's conclusion holds true: the inspiration for the next concerted market movement is anyone's guess at this point. It's not safe to plan on rates moving in either direction in the short term, but recent levels of volatility suggest there's not much risk in being wrong.”

Blue Home Loans explains that in the current rate environment the decision to lock or float becomes less straight forward. However, the California mortgage company notes that those who are near to closing on their loans will probably wish to lock in the current rates, which are still quite low, in order to avoid any spike in rates, as even a temporary rise in rates could erase the gains that have been seen so far this year. Even those who have not started their loan process yet can benefit from this advice by locking in on application 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 rates dip lower before their loan closes.

Blue Home Loans can help California borrowers 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.

California Bureau of Real Estate -- BRE #01938557 NMLS #1162386

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Brandon Blue
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