San Diego, CA (PRWEB) June 10, 2014
Mortgage rate rose again today, creeping up to the highest levels they have been within a one month time span. Fortunately, since rates have remained in such a narrow range over the past month or so, they highest levels in a month are still near the lowest levels 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 June 10 report from Mortgage News Daily gives a clear picture of the current situation. It says, “Mortgage rates continued higher today adding to a losing streak that has only seen one day of improvement in the last 9. Rate sheets now most closely match those seen on May 10th. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) is back at 4.25% for the second straight day. Most borrowers will still see the same rate as was quoted yesterday, but with higher closing costs. The increase equates to 0.02% in terms of rate.”
The same article says, “While yesterday's trading activity didn't really make much of a statement about the current state of events for mortgage rates, today confirms recent moves higher. In other words, we could have held out some hope that markets were just digesting last week's big events and that rates might still snap back lower. Today builds a case against any quick moves lower, and begins to make last week's only positive day for rates look like an outlier in an otherwise determined trend higher.”
Blue Home Loans explains that although rates have been increasing over the past week, they are still not far from the lower rates seen this year. For those considering whether to lock in current rates or to float and see if rates improve, the California mortgage company notes that rates will likely not veer out of the range they have stayed in for some time, meaning that both risk and reward are minimized. However, for those who are near to closing, locking might be the best course of action to avoid any further losses. 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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