Mortgage Rates Unchanged From Last Week’s Latest Levels

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California mortgage company, Blue Home Loans, Inc., comments on the current mortgage rates trends and offers advice for those who are seeking the best home loans.

Mortgage rates were for the most part unchanged today from last week’s most recent levels. Last week’s NFP report, which was posted on Thursday due to the 4th of July falling on Friday, pushed mortgage rates into a new higher trend and this week the question is whether that trend will continue or if rates can recover and go back down. Today’s quiet market session does not yet offer any solid information on which way things will go.

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.

A July 7th report from Mortgage News Daily sheds some light on the current situation with mortgage interest rates. It says, “Mortgage rates didn't move today. Some lenders were slightly higher or lower compared to Thursday, but only in terms of closing costs, and only by very small margins that averaged out to zero net change. That leaves rates at their highest levels in nearly a month. The movement during that time, however, has been subdued with day-to-day changes limited mostly to closing costs for rates of 4.125-4.25% for the best-case scenarios.”

That same article continues: “The past week saw a decided shift up to 4.25% with Thursday's weakness simply increasing closing costs and confirming 4.25% as the most-prevalently quoted conforming 30yr-fixed rate for ideal scenarios. That naturally remains the case with today's 'unchanged' rate sheets. 4.125% is much less likely today, but it wouldn't take too much improvement to get it back for some lenders. 4.375% on the other hand, is farther from consideration and would require another week of moderate losses before becoming more commonly quoted.”

Blue Home Loans explains that with rates staying at the same levels, the question of whether to lock of float depends mainly on personal preference. There may be a chance that rates will slowly go down in the weeks ahead, but for those who are averse to any risk, locking I still the only non-risk option.

Those who are near to closing on their loans should especially consider locking, while those who have not even started their loan process can consider locking in on application. If they lock in with a lender that allows for renegotiation, they will also have the chance to keep their options open in case rates do go down before they close on their loan.

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 thousands of dollars 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 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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Brandon Blue
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