Mortgage Rates Slightly Higher Yesterday – Big-Ticket Events Approaching

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CA mortgage company, Blue Home Loans, Inc., comments on the current issues affecting mortgage interest rates and offers advice for California borrowers seeking the best home loan deals.

Mortgage rates moved slightly higher yesterday, breaking the momentum of the steady improvements seen towards the end of September. While things could have been worse had it not been for this previous recovery, yesterday’s increase confirmed September as one of only three months with noticeable upward movement in mortgage rates so far this year due to increases in the first half of the month. While yesterday’s move may not give much insight into where rates will go from here, the big-ticket events scheduled over the next few days certainly should. Blue Home Loans, Inc., a California mortgage company lead by father and son, Robert and Brandon Blue, takes a look at the factors surrounding recent mortgage rate movements so that borrowers can get a better idea of how to proceed with their home loan plans.

A September 30th report from Mortgage News Daily explains, “Mortgage rates were slightly higher today leaving September as one of only 3 months this year with noticeable upward movement. Things could have been worse had it not been for the steady improvements seen during the second half of the month. Today was an exception to that recent trend, but it's tempered by the fact that yesterday's gains were the best of the month. The only downside is that the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers remains 4.25% whereas it would have likely moved to 4.125% if rates went the other direction today. These movement considerations may be small scale compared to what lies ahead. Several big-ticket events are coming up in the second half of this week and they stand a good chance to increase the level of volatility. That's neither good nor bad necessarily, but simply means the next pronounced move could be bigger than those seen over the last few weeks.”

Blue Home Loans explains that the big-ticket events mentioned include Thursday's ECB statement and weekly unemployment claims and Friday’s NFP report. These events all have big market moving potential and could push rates higher or lower very quickly. Because of this, those who are floating will need to be cautious when deciding how long they will risk not locking in their rates. For those who are near to closing, the best option may be to lock in as a hedge against potentially higher rates if things go south very quickly. Those with more time on their hands who can afford more risk should still be very careful and keep a close watch on today’s events and the events over the next few days, as well. Those who are floating should ideally have a loan officer who is keeping a close eye on the current mortgage rate trends and can inform them any time there is a good opportunity to lock in a good rate, or when locking is the best option to avoid paying more.

The Blue Home Loans team is dedicated to keeping their clients informed of their best loan options and rate lock opportunities, so that they can benefit from the maximum amount of savings on their home purchase or refinance loans. By offering the best loan programs, loan rates, and closing costs available, the California mortgage company has been able to help CA residents realize their home ownership dreams for many years. The company’s 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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