Lenders Split On Mortgage Rates After Today’s Important Events

San Diego, CA (PRWEB) September 05, 2014

Today’s volatility resulted in rates staying more or less the same… on average. In reality, many lenders were split on mortgage rates after today’s important events, with some lenders offering higher rates, some lower, and some going unchanged altogether, according to Mortgage News Daily. Blue Home Loans, Inc., a California-based full service mortgage company headed by father and son team, Robert and Brandon Blue, takes a look at some of current trends in mortgage rates and gives some suggestions for those who are unsure how to proceed with their home loan plans.

A September 4th report from Mortgage News Daily gives a good look at today’s mortgage rate movement. It says, “Mortgage rates ended the day fairly well mixed between higher and lower compared to yesterday. This is heavily dependent on the lender in question as some were noticeably stronger or weaker while others were relatively unchanged. The stratification is a direct result of recent market volatility, which has picked up as we move through some important events. These include the European Central Bank's policy announcement earlier this morning as well as some of the bigger economic reports coming out today and tomorrow. The bottom line is that it's left 4.125% intact as the most prevalently-quoted conforming 30yr fixed rate for top-tier scenarios.”

The same article also explains, “The volatility continues tomorrow with the release of the Employment Situation Report at 8:30am; the most important economic report of any given month. If there's any big reaction to the data, it will be apparent well before lenders put out their first rate sheets of the day. Therefore, if you're not locked today, you run the risk of losing a fair amount of ground, though there's always the possibility of improvements as well.”

Blue Home Loans would have to agree with this assessment – the risk for an increase in rates is very real, but not set in stone. As such the California mortgage company’s view on the situation is that those who are near to closing would probably do best by locking in their rates before tomorrow’s NFP report. Those with more time on their hands always have the option to wait things out, but locking in could also be a prudent move for borrowers in this situation.

For those who are just starting out with their loan process, applying for a loan and locking on application is always an option, but borrowers may wish to do this with a lender that allows for renegotiation, in case rates go any 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 seeking to save money on their home loans to get today’s lowest mortgage rates, the lowest closing costs, and the best loan program for their scenario. 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

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