Mortgage Rates End Week Just Slightly Higher Than This Year’s Lowest Lows

San Diego, CA (PRWEB) May 31, 2014

Mortgage rates ended the day just slightly higher than yesterday’s levels, which were also just slightly higher than the day before, when rates dropped to the lowest levels of 2014. In all, rates have been hovering near these low levels for more than a week, leaving some to wonder when the next big move will be. The answer to this question may not be far off, since next week will bring a round of important economic reports, as well as some meetings which could impact mortgage interest rates. 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 May 30th report from Mortgage News Daily gives an overview of the current situation. It says, “Mortgage rates continued slightly higher today. This had more to do with a market-based continuation of yesterday's momentum than it did with any of today's data and events. Lenders' rate sheets are most directly affected by trading of Mortgage-Backed-Securities (MBS), which are part of the broader "Fixed-Income" or simply "bond markets." Trading in bond markets has recently grown more exciting than it had been from February through April. As May draws to a close, we can look back and see more clearly that much of the positivity was (and still is) a factor of expectations for the European Central Bank (ECB) to embark on some sort of asset buying program, similar to the Fed's QE. The ECB is also expected to cut its policy rates.”

Blue Home Loans Inc. explains that the outcome of this meeting will have a big impact on mortgage interest rates. Whether the result will be good or bad for mortgage borrower remains to be seen, however. There is a chance rates could go down after this meeting – BUT there is a chance they could bounce higher very quickly, since many are already pricing in what they expect will be the outcome of the ECB meeting. If expectations are not met, this could mean a correction in price sheets leading to a jump in rates instead of a decrease. Because of this possibility, the California mortgage company suggests that locking in the current rates might be the best option, especially for those who are near to closing on their loans. 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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