Mortgage Rate Movement Comes to a Standstill – Still Waiting to See What Happens Next

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California mortgage company, Blue Home Loans, Inc., takes a look at the recent mortgage rate trends and offers advice for those who are looking for the best home loan deals.

Mortgage rate movement came to a standstill yesterday, earning the title of the single flattest day since October 2nd, according to mortgage and real estate news website, Mortgage News Daily. This is in stark contrast to last week’s volatility and with rates at a standstill near the lowest levels of the year, there is definitely a lot of interest in what will happen next. Blue Home Loans, Inc., a California full-service mortgage company led by father and son team, Robert and Brandon Blue, that has been helping its clients find the best home loans for many years, takes a look at the recent mortgage rate trends and offers some advice for those who are seeking to take advantage of recent low rates.

An October 22nd report from Mortgage News Daily gives some further insight into the current situation. It says, “Mortgage rates had their single flattest day since October 2nd today. This is the polar opposite of last week's exceptional volatility. The most interesting thing about it is that this is the way rates typically respond to that kind of rapid movement. It goes something like this: one day, in particular, sticks out as utterly insane and the ensuing days get less and less insane until the insanity completely dries up. Last Wednesday was ground zero for insanity, and today there's none to be found.”

The same article continues, “The second most interesting thing about that is that it usually results in the resumption of movement after days like today. History suggests that movement can be in either direction. That's good news for risk-takers inclined to float as it would minimize the losses incurred if markets move against you. It's worth mentioning though that rates are so close to 16-month lows that there's absolutely no reason to regret locking today, or any time in the past 7 days. Depending on how tomorrow turns out, it might even be the best choice.”

The Blue Home Loans team reminds borrowers that even though there is a chance that rates could go lower, there are also no guarantees when it comes to mortgage interest rates, so those who are anxious to take advantage of today’s low mortgage rates should act quickly to get their mortgage applications underway if they do not have a pending application already. With mortgage rates near the lowest levels of the year, and some hope that they could go even lower, there has been an increase in mortgage refinance applications. With their years of experience in the field, the team at Blue Home Loans can help California home owners to take advantage of this opportunity.

The California mortgage company has a lot of expertise in finding the right refinance loans and can help facilitate a fast refinance process for their clients. A recent Blue Home Loans review from a client who closed a refinance loan in Murrieta, CA, says, “I contacted Brandon Blue through the internet. I read all his fabulous reviews and he lives up to every single one of them! He is efficient, friendly and knowledgeable and, as I told Brandon, the process to refinance was a breeze. I would absolutely recommend Brandon again and again. You will feel confident in him and his staff's capable hands!”

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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