San Diego, CA (PRWEB) April 24, 2014
Mortgage rates moved sideways today, after recovering some loses from the last week yesterday. This was despite stronger data which might have caused rates to increase. Blue Home Loans, Inc., a full service California mortgage company that has been providing the lowest rates and best loan products for many years, comments on this current situation and gives some advice for those who are not sure how to best proceed with their home loan plans.
An April 24th report from Mortgage News Daily says, “Mortgage rates held were mostly sideways today. In cases where rate sheets differed from yesterday, the tendency was toward just slightly higher rates. The move was small enough that this would only affect the up-front cost component of most quotes, meaning the actual interest rate would be the same. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains at 4.375% in most cases, though many lenders are better-priced at 4.5%. For a second straight day, the markets underlying mortgage rate changes had a paradoxical trading session in that they moved in the opposite direction of that suggested by the incoming data. When economic data is stronger than expected, interest rates tend to rise--all things being equal. This morning's economic data fits that bill, yet rates went no higher.”
Blue Home Loans explains that the recent movements in mortgage rates, which seem to go against conventional wisdom, are being pinned to headlines in Ukraine. However, while geopolitical turmoil will often cause rates to decrease, or simply resist moving upwards – as happened today – the Ukraine situation may not be the full reason for this rate movement. Regardless of this fact, the California mortgage company notes that those who are looking for a great interest rate can see this lack of motivation to move upwards as a very good thing. Borrowers who wish to take advantage of current rates before they head up (which is a distinct possibility, given that no one knows why they have not gone up already) should not hesitate to lock in, or start their loan process and lock in on application. Those who want to keep their options open can always choose a lender that allows for renegotiation. This will allow them to keep today’s low rates in reserve, and still be able to change to a lower rate if mortgage rates dip significantly before the loan closes.
Blue Home Loans, Inc. can help borrowers within California who wish to lock in the lowest mortgage rates to find the best possible lenders and loans for their situation and work quickly to get approved so that they can avoid higher rates down the line. Their fast online loan application and documentation portal makes it easy for clients to submit their application and keep track of their loan’s progress. With a reputation for fast, reliable and courteous service, the company’s team of experienced loan officers can be especially useful during this time.
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.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365