Mortgage Rates Push Past Recent Lows – Exciting Time For California Home Buyers

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Blue Home Loans, Inc. comments on the recent activity in mortgage rates reported by Mortgage News Daily and offers some insight and advice for California homeowners and new home buyers.

Today was the last trading day of the month and this alone can be cause for mortgage rate activity to be at higher levels. However today also brought a lot relevant economic data to the mix and the result is that mortgage rates were able to push past recent lows and ended the day at levels not seen since early May, 2013. California full-service mortgage company, Blue Home Loans, Inc., has been helping clients to gain the maximum amount of savings on their home loans for many years and now takes a look at the recent mortgage rate trends and gives some advice for those who have home loan plans for the near future.

The California mortgage company takes a look at the report from real estate news website, Mortgage News Daily, posted this January 30th, 2015, which says, “Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen since May 10th 2013. That was the day that the Wall Street Journal's Hilsenrath suggested the Fed was mapping an exit from stimulus, which sent markets into the tailspin that was effectively the prologue to the taper tantrum. It's amazing, or at least interesting to consider that asset purchases have now been fully phased and that a rate hike is a much more immediate threat, yet rates are back to where they were before markets really began adjusting for all that "stuff." That's the power of global economic turmoil and a troubling lack of inflation for core economies.”

The MND article explains, “The specific result today is the greatly-increased prevalence of 3.5% as a conforming 30yr fixed quote for top tier scenarios. 3.625% is ubiquitously available, but again, keep in mind that these rates refer to top tier scenarios with 25% equity or more, and high credit scores among other things. The important part is the day-over-day change and the relationship to recent levels. In other words, no matter what you were quoted in the past few weeks, if your scenario is the same, today's rates are better.”

Blue home loans explains that current conditions make for a pretty unbeatable opportunity for California home buyers and also for those who want to refinance their current mortgage loans. The company notes that mortgage rates still have room to benefit from today’s bond gains as many lenders are slow to pass down these savings, so Monday could bring even lower rates. However, a continued rally for mortgage rates is always a bit of a nail-biter, because the longer rates continue in one direction, the greater the chance that there will be a strong correction. Unfortunately, it is impossible to accurately predict when this will happen until it happens. The only thing that is certain is that it will happen… eventually.

Because of this, the California mortgage company advises those who are in the market for a new home loan to start planning ahead and get their loan application going if they are ready. This will allow them to lock in today’s lowest California mortgage rates or float their rate if they feel that it is worth the risk to possibly get a lower rate. Those who do float will want to make sure that they have the ability to lock in their rates very quickly if it seems that rates are starting to make a turn-around. California borrowers who want to be sure that they benefit from the best California mortgage rates in 2015 will find that they can count on the mortgage experts at Blue Home Loans, Inc. to find them the best rates and mortgage programs for their unique financial situation and home loan goals. The Blue Home Loans website states,

“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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Brandon Blue
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