Mortgage Rates Start The Week Off Unchanged, But Borrowers Should Expect More Volatility Soon

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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.

Average mortgage rates saw little to no change yesterday, which very well may be the calm before the storm going into this week. With a number of important economic reports and events scheduled this week, starting today with Consumer Confidence, borrowers who are watching mortgage rates could definitely be looking at more movement this week than what they have been used to most of the year. 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 July 28th report from Mortgage News Daily gives some further insight into the current situation with mortgage rates. It says, “Mortgage rates didn't move much to start the week, with a nearly equal number of lenders moving both higher and lower. On average, rates were just barely higher. Even then, the actual rates being quoted are the same today versus Friday with the only differences seen in the form of closing costs. The most prevalently quoted conforming 30yr fixed rate remains at 4.25% for flawless scenarios with 4.125% available to a lesser extent.”

That same article goes on to say, “As the week progresses, so should the movement in the world of interest rates. Mortgages and Treasury yields alike have been bumping around at the lower end of their ranges in 2014. There's a decent chance that this week's events will either help break those ranges, or prompt a bounce back toward higher levels. Bottom line, rates have been low and sideways, but they should look more like they're choosing a direction by the end of the week.”

Blue Home Loans explains that the first real chance of volatility will be tomorrow, Wednesday, as a number of key reports are due for release and there will also be a scheduled Fed Announcement in the afternoon. As the article above states, this volatility could bring rates lower or higher – there is no way to tell until it happens. However, because rates are currently near 6 month lows, there is a greater risk that rates will go up.

Because of this, the safest course of action would be to lock in before the data releases start. Those who are near to closing on their loans should definitely consider doing this, and even those who have not yet started their loan process might consider locking in on application. This can be done with a lender that allows for renegotiation, in case there is a chance to lock in a lower rate before the borrower closes on their loan.

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 money 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 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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