Mortgage Rates Take a Hit, Rising at the Fastest Pace of the Year – Blue Home Loans, Inc. Weighs In.

Share Article

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.

Mortgage rates had a serious bump on the journey towards lower levels today, with national averages rising at the fastest pace so far this year. Fortunately, even with this quick rise, the day still ended at the sixth best day for mortgage rates in the past 21 months. Now the question is – is this turn of events only a bump in the road, or is it the beginning of a u-turn towards a higher long term trend? 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 February 3rd, 2015, which says, “Mortgage rates picked up the pace of weakness today, moving higher at their quickest pace of the year. That's the bad news. The good news is that today is still the 6th best day for rates in the past 21 months and many borrowers will only experience this spike in the form of slightly higher closing costs as opposed to a rise in rates themselves. Conforming 30yr fixed rates of 3.625% remain widely available for top tier scenarios. Up until yesterday, 3.5% was getting very close in terms of prevalence, but today's weakness changed that. It's still available, but in many cases, there could be upfront costs whereas there were none yesterday.”

The MND article also explains that this move for mortgage rates is just a small part of the bigger trend in financial markets across the globe. It says,

“All types of asset classes have been moving in a coordinated way amid the increased volatility of late 2014 and early 2015. In general, there's a spectrum of risk. When investors favor risk, they sell bonds (which makes rates rise) and buy stocks (and recently, oil too). Certainly debt negotiations in Greece have been a big source of information for that risk spectrum of late, and this has been an increasingly good thing for US bond markets as investors move to avoid risk. But this morning, European markets reacted (or overreacted?) to a favorable nugget of news regarding Greek negotiations. It's far too soon to tell if it will materialize into actual justification to pursue risk, but investors have been taking any reasonable opportunities to correct and consolidate against the bigger trend toward lower rates.”

Blue Home Loans, Inc. explains that while this situation does not bode well for those with home loan plans, there is still some hope that this rise in rates can be recovered over the next days or weeks. However, it would not be wise for anyone to bank on rates getting lower again. Those who wish to take advantage of 2015’s low rates, and who do not want to risk rates getting even higher, should definitely lock in their rates now. Those who have not yet started their loan applications will want to get things moving as soon as they can. 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

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Brandon Blue
Visit website