San Diego, CA (PRWEB) June 16, 2014
Mortgage rates started the week slightly lower than last week’s latest levels, which may be partially the result of geopolitical factors. 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 16th report from Mortgage News Daily gives a good rundown of the current situation with mortgage rates. It says, “Mortgage rates improved again today despite stronger-than-expected economic data. When economic reports are better than forecast, rates tend to move higher, but geopolitical tensions are currently weighing on markets to some extent, especially since last Thursday. In fact, today's rate sheets fell back almost perfectly in line with Thursday's latest offerings. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains 4.25%. Many borrowers will see today's improvement only in the form of lower closing costs (equivalent to 0.03% in terms of rate).”
The same article continues, “As was the case on Friday, today's market movements don't really tell us anything new. Rather, they simply reiterate the fact that the push toward higher rates from late May has run its course. That doesn't mean rates couldn't continue higher--simply that we're waiting for the next trend to develop. In the meantime, the range of movement has been very narrow, making for lower risk and reward for floating. That said, rates are still much closer to recent lows than they usually stay after historically similar bounces, which is ample justification for those inclined to lock.”
Blue Home Loans explains that those who are near to closing might definitely want to consider locking in the current rates. Though there is a chance rates could dip further if things continue to escalate overseas, there is a also the chance that they could bounce higher. Because of this, those who are closing within the next fifteen or even thirty days, should think about locking in, since rates are still near the lowest they have been in 2014. 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.
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