San Diego, CA (PRWEB) August 18, 2014
Mortgage rates had some very decent gains last week, primarily due to geopolitical risk pushing investors towards “safer” Treasuries and mortgage-backed securities (MBS), and as a result, last week ended with rates at the lowest levels in over two months. But what is in store for mortgage rates in the week ahead? Can this momentum continue, or will mortgage interest rates see a bounce upwards this week? 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.
An August 18th report from Mortgage News Daily gives some good insight into the current situation. It says, “Last week brought news that Ukrainian forces had blown up part of a Russian "armored column"--whatever that is. Early newswires for Monday now suggest a potential de-escalation. Actually, see if you can figure out what Russia's Foreign Ministry is saying here (these are actual words in the newswire from Reuters, split into bullet points in order to help us divide and conquer the dizzying logic.
- Agreement reached
- For further talks
- Which could produce proposals
- for Ukraine crisis de-escalation.
So to recap, at least we've agreed to talk about possibly proposing a plan to deescalate. What commitment! What utterly precise and forceful action! (And we wonder why this conflict continues to fuel market uncertainty... or do we?).”
The same article goes on to explain, “Last week's rally was so decent that any further improvements would require another similarly momentous day of headlines. Bond yields are pushed right up against the lower edge of their recent trend. Any major suggestions to move in the other direction would be well-met both by bears who think it's finally time for rates to go higher, as well as bulls who wouldn't mind giving the rally a chance to recharge.”
Blue Home Loans explains that there is always a chance that things could escalate in Ukraine or any of the many other conflict zones across the globe. This would probably keep rates low; but, unless there is some real reason for rates to continue going down, the risk of rates rising significantly could be very great. Because of this, those who are considering whether to lock or float should carefully assess their own risk tolerance and keep this in mind going into this new week.
Those who are near to closing on their loans should probably consider locking in the current rates, while those with a little more time on their hands could choose to float, but should do so carefully, with an eye on the markets and close communication with their loan officer, who ideally will keep them updated on any changes in mortgage rates that would signal that it is time to lock in.
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 BlueHomeLoans.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
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