Action Packed Week Ahead For Mortgage Interest Rates

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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.

Last week ended on a good note for mortgage interest rates, with last Friday seeing a slight decrease in levels from the pervious days. A week of important reports and events ahead may continue this positive trend or push rates back up, possibly even higher than before. 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.

Last Friday’s report from Mortgage News Daily (posted July 25th) gives some good insight into what is in store this week for those who have been watching for changes in mortgage interest rates. It says, “Mortgage rates were sideways to marginally lower today. Many lenders released new and improved rate sheets in the afternoon in order for the average to get better than yesterday, but even then, lenders are obviously cautious ahead of next week's big-ticket events. The most prevalently-quoted conforming 30yr fixed rate remained at 4.25% for flawless scenarios, though 4.125% is still a contender--especially among lenders who released rate sheet improvements.”

That same article further explains, “It's not uncommon for financial securities (like those that influence mortgage rates) to pull back and consolidate/correct after a winning streak. Yesterday's abrupt move higher threatened to stand as the beginning of just such correction heading into next week. As such, simply being sideways is a victory today! And again, the lenders that are issuing revised rate sheets this afternoon are moving into slightly better territory than yesterday. From a strategy standpoint, today's improvement doesn't really change things. It continues to be the case that next week could send rates moving much higher or lower. At the very least, movement will be more volatile. The conclusion is that both risk and reward are elevated when it comes to floating a rate.”

Blue Home Loans explains that this week will bring data from both ADP and GDP on Wednesday, followed by what is usually the most influential report of the month, NFP, on Friday. As the quote above touches on, these reports could result in much higher or lower rates, or could have a minimal impact. However, there will definitely be more opportunities for mortgage rates to move around this week, which means that those who are averse to risk, for example – those who are near to closing on their loans, should consider locking in as a safeguard in case rates get higher and they are not able to wait it out until rates, hopefully, go back down.

Those who are working with a longer lock period can wait and see which way mortgage rates will go, or just lock in as well, if they feel it is not worth the risk. This also applies to those who are just starting their loan process – locking in on application may be a good option for some, and if new borrowers do this with a lender that allows for renegotiation, then they will still have a chance to get a lower rate if mortgage rates drop considerably before they close on their home loan.

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 money 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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