Mortgage Rates Slightly Up After Yesterday’s Improvement

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California mortgage company, Blue Home Loans, Inc., takes a look at current mortgage rate trends and gives some advice for those who are looking for the best possible home loan rates.

A slow in the buying spree for fixed income securities (including MBS which influence mortgage rates) caused by yesterday’s geopolitical headlines moved mortgage rates slightly up today. Despite losing yesterday’s gains, however, mortgage rates are still near recent lows. The question now is – should borrowers lock in these rates or wait to see if other factors will cause rates to go down again? 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 16th report from Mortgage News Daily states, “Mortgage rates were slightly higher today as investors continued to pull back from yesterday's geopolitically motivated buying spree. Tensions in Ukraine had created a short term spike in demand for fixed income securities like Treasuries and the mortgage-backed-securities (MBS) that most directly influence mortgage rates. Higher demand means lower rates. As we saw yesterday, that spike in demand led to moderate improvements in rates, but had already started fading by the end of the day. This morning simply continued in that same vein, resulting in higher mortgage rates. That said, the weakness has been merely moderate. Weaker housing data helped to prevent further bond market weakness (bonds tend to improve when economic data is weaker than expected).”

Blue Home Loans, Inc. explains that rates are still near the lowest levels of the last 3 months, and because it looks like this is as low as things will go, barring some big event in the domestic economy or abroad, it would probably be the wisest choice for mortgage borrowers to lock in these current rates. Of course, there is always a chance that rates could go lower, but at this point it looks like they have gone down as far as they can and the only way to go from here is sideways or up. Those who are within 30 days of closing should definitely take a look at the recent range mortgage rates have been in and realize that today’s rates are likely near the best levels they are going to see, at least in the short range.

Those who are farther from closing, or who have not yet started their loan process, should also consider the fact that rates are predicted to go up this year, possibly even hitting the 5.00% point by 2015. Because of this, the mortgage company advises that new borrowers can save today’s low rates while also leaving their options open in the event that rates reach lower levels sometime before they close on their loan, by working with a lender that allows for renegotiation. This will enable them to keep current rates in reserve, protecting them from further increases, while also being able to renegotiate to a lower rate if there is a bigger dip before they close on their home loan.

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 or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.

CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365

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Brandon Blue