San Diego, CA (PRWEB) August 27, 2014 -- The slow trickle of improvement continued for mortgage rates today, and with today’s very slight increase, mortgage rates are nearing 2014 lows again. 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 27th report from Mortgage News Daily gives a summary of today’s rate movement. It says, “Mortgage rates fell by an almost imperceptible amount today. Some lenders were actually unchanged or slightly higher. The actual NOTE rates quoted today would be identical to yesterday, with the only differences being seen in the form of modestly lower closing costs. This means that 4.125% stays intact as the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios. All that having been said, the slow trickle of improvement is gradually bringing rates closer to their best levels in 2014. It would only take another few days of these improvements to get there.”
That same article goes on to say, “The bond markets that underlie mortgage rates started strong today, once again benefiting from strength in European bond markets… Bond markets didn't move much during US trading hours, but this was more true of the Mortgage-Backed-Securities (MBS) that directly dictate rates as opposed to US Treasuries which continued improving into the afternoon. In other words, Treasury rates are continuing their recent trend of moving lower, faster than mortgage rates (which are stuck in the mud by comparison).”
Blue Home Loans explains that with today’s rates hitting the second-to-lowest levels of the year, it could be a very good opportunity to lock for many borrowers right now. Those who are near to closing on their loans should definitely consider locking in their current mortgage rates, while those who have more time on their hands could choose to float, but should do so carefully, as rates could possibly move higher after tomorrow’s data, which could lead to more volatility in the market.
For those who are just starting out with their loan process, locking on application is always an option, but borrowers may wish to do this with a lender that allows for renegotiation, in case rates drop even lower before they close on their loan. Those who do not immediately lock in their rates will want to be sure that they can depend on their loan officer to keep them informed of any situations where locking would be favorable, or the best option to avoid higher rates.
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,
“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
Brandon Blue, Blue Home Loans, Inc., http://bluehomeloans.com/, +1 (949) 291-8468, [email protected]
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