San Diego, CA (PRWEB) August 22, 2014
The three day losing streak for mortgage rates was finally broken yesterday, when bond markets paradoxically improved despite the release of what appeared to be stronger than expected economic data. 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 21st report from Mortgage News Daily gives some further info on the factors surrounding yesterday’s mortgage rate rally. It says, “Mortgage rates ended a 3-day losing streak, moving modestly lower today. This wasn't the case in the morning, but several lenders released positively-revised rate sheets in the afternoon. As such, some lenders still have slightly higher rates compared to yesterday, but the average is slightly lower. This leaves 4.125% intact as the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. 4.25% is still common and 4.0% remains a bit of a stretch, but is available to some borrowers willing to pay the extra up front costs.”
That same article goes on to explain, “The markets that underlie mortgage rates moved paradoxically today. Economic data was stronger than expected, which typically pushes rates higher. There were other factors in play today that outweighed the impact of the economic data. In addition, such data isn't always as simple as its main headline might suggest, and several of the reports had valid counterpoints to the positivity beneath the surface. In the bigger picture, rates are still fairly close to their best levels of the year. The widely followed Freddie Mac rate survey came out today, showing this week's rates are the lowest of the year. Keep in mind that this is only the case for their survey, which is limited due to the time-frames that it covers.”
Blue Home Loans explains that yesterday’s bond rally may also be due to some “leveling off” before today’s one and only big economic event – Janet Yellen’s Jackson Hole speech, which many investors look to as a tone-setter for Fed policy in the upcoming year. Because this event has a lot of market moving potential, those who are undecided about whether to lock of float should keep a close eye on events, and lock accordingly. Of course, those who cannot risk rates going up again should weigh their options, and lock in if this morning’s rates look good to them.
Mortgage rates may indeed go back up after this event, but there is also a chance that they could go further down. Those who have more time before they must lock in, and who are also not afraid of some risk, might wish to see how this plays out. 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 states,
“Our goal is to offer the best refinance rates and lowest mortgage payments in minutes. We will beat virtually any mortgage rate quote and our wide selection of loan products are sure to provide the perfect mortgage solution for all of your Real Estate Finance needs.” – “Whether you need help for a debt consolidation loan or you have bad credit, we are your complete mortgage solution for refinance and purchase transactions. Need cash out? Debt consolidation, cash out, and low interest rates are our specialty, regardless of bad credit, foreclosures, or bankruptcy. We know that you have specific needs and we strive to meet those needs with a wide array of refinance and purchase products and most importantly, quality service and individual attention.”
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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