Mortgage Rates Back To 1 Month Lows – Still Haven’t Broken Lower Than Recent Trend

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Blue Home Loans, Inc. takes a look at current mortgage rate news and offers advice for California borrowers seeking the best home loans.

After last Friday’s stronger than expected NFP report, and the subsequent lame reaction from bond markets, there was still some speculation regarding whether or not markets would come back weaker after having time to mull over the situation over the weekend. Luckily, this was not the case and mortgage rates were back to 1 month lows yesterday. However, treasuries still have not been able to break lower than current trend boundaries, and if they do not do so soon it could be a sign that rates are bound to head higher rather than lower, according to real estate news site, Mortgage News Daily. Blue Home Loans, Inc., a California-based full-service mortgage company headed by father and son, Robert and Brandon Blue, takes a look at these recent trends and the factors that might play a part in where mortgage rates move in the week ahead.

An October 7th report from Mortgage News Daily outlines the situation going into the week. It says, “After an exceptionally busy week last week and with very little on the calendar of scheduled events, this is an understandably slow week for bond markets. As far as market movers are concerned, all we have on the schedule are the Treasury auctions, starting with today's 3yr, and Wednesday's FOMC Minutes. That has placed the heavy lifting burden on non-calendar market movers, like the stock lever and the technical framework. With respect to techs, 10yr yields continue to operate CLOSE to a very important trend line leading up from the lows of the year. There is plenty of momentum for this to happen, but if it doesn't happen soon, it would be fairly ominous--forcing us to ask ‘that's it then?’”

Blue Home Loans explains that those who are floating their rates should decide how to proceed based on their personal loan situations. Those who are near to closing, for instance, would probably find it prudent to lock in soon while rates are still near their lows, as there is no way to tell if rates will bounce higher instead of staying the same or going down. Those who can afford more risk and have more time on their hands could continue to float, but should do so carefully, with an eye out for any upward movement that looks to be more substantial.

Those who have not yet started their loan processes should also be aware of these current market trends. They may choose to lock on application of float their rates, but those who float should do so carefully, preferably with a loan officer that can be relied upon to keep them updated on the best times to lock in a good rate. For those living in California, Blue Home Loans has a reputation for providing its clients with the best rates, closing costs, and loan programs that can help home buyers and owners to save money on their loans. The Blue Home Loans websites 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.

California Bureau of Real Estate -- BRE #01938557 NMLS #1162386

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