Mortgage Rates Head Up To Start New Month

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California mortgage company, Blue Home Loans, Inc., comments on the current mortgage rates trends and offers advice for those who are seeking the best home loans.

Mortgage rates have been going down pretty consistently over the past week or so, but today this changed, as mortgage rates started moving higher, breaking the previous downward trend. 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 July 1st report from Mortgage News Daily gives further insight into the current situation with mortgage interest rates. It says, “Mortgage rates finally made a move higher today as financial markets transitioned from 2nd to 3rd quarter trading strategies. Most frequently, we see things like economic data and news headlines pushing trading levels in bond markets in either direction. When that effects mortgage-backed-securities (MBS), mortgage rates end up moving as a result. Today was an exception to the norm, however, as the economic data had little bearing on MBS.”

The same article explains, “In addition to the overt sorts of root causes for rate movement, there are also more subtle considerations that can, at times, carry even more weight. One example is simply the calendar. There are all sorts of stakeholders who trade the financial instruments that ultimately determine how rates will move. One of the bigger categories is that of money managers. At the end of the month (and even more so at the end of the quarter), they can have needs or goals for their portfolios that inform their trading strategy regardless of the day's inbound data and events.”

Blue Home Loans explains that with all the economic data coming out on this holiday shortened week, most notably the Jobs report this Thursday which has the biggest potential to move mortgage rates, it would be safest for most borrowers to lock in current rates, which are just 0.04% higher than yesterday’s rates. This is especially relevant advice for those who are very near to closing on their loans and have not locked yet, since even a temporary shift upwards in rates could mean losing out on thousands of dollars in savings.

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 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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Brandon Blue
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