San Diego, CA (PRWEB) July 13, 2014
Mortgage rates ended last week at the lowest levels of the month so far, but is this downward trend likely to continue? With quite a few significant events and data reports coming out this week there will be plenty of chances for rates to either break lower – if this is how event unfold – or go higher again. 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 report by CNBC’s Tyler Mathisen from July 11th gives a good idea of what mortgage borrowers should expect in finance markets for the week ahead. It says, “It's mid-July and the pools and beaches are packed, Major League Baseball holds its annual All-Star Game Home Run Derby, and Wall Street gears up for a ton of second-quarter earnings reports. Among the big names coming out with their latest results this week - Citigroup, Goldman Sachs, Johnson and Johnson, JPMorgan Chase, Bank of America, eBay, Morgan Stanley, Google, IBM and General Electric - the list goes on, and on, and on.”
The report continues, “Federal Reserve Chair, Janet Yellen, will head to the Capital Hill to deliver the Central Bank's semi-annual report on monetary policy - widely watched, closely listened to. We got a better look at the U.S. consumer - retail sales for June come out. More Americans are working, they're making a little more money, but the big question is - are we spending more of it? And some indications from stores indicate that - we're not. We'll also get a rate on the strength of the housing recovery, data on new home construction and home builder confidence…"
Blue Home Loans explains that whenever there is a data heavy week ahead, mortgage borrowers who are considering whether to lock or float really need to assess their risk tolerance and the current mortgage rate trend. Right now, rates are down to their lowest levels of the month. They have also been improving for quite a few days in a row. Whenever rates travel in one direction for a considerable length of time, the chance of them bouncing back in the opposite direction increases.
This coupled with the data-heavy week ahead means that those with low risk tolerances may wish to lock in if they see that Monday’s rates have not carried any delayed improvements from last week. For those with longer term lock periods, floating might still pay off, but as always it is important for borrowers to keep an eye rates and keep in close contact with their loan officer, who ideally is also looking carefully at finance markets. New buyers who are just starting can consider locking in on application, but should do so with a lender that allows for renegotiation in case rates decrease considerably 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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