San Diego, CA (PRWEB) September 10, 2013
Blue Loan Services is a full service mortgage company that has been helping residents of California to find the best loan products and home loan rates for many years. The company, headed by the father and son team Robert and Brandon Blue, has been dedicated to serving its customers with honesty, integrity and competence. The Blue Loan Services team of mortgage professionals operates with the goal to provide home loans to its clients while providing them with the lowest interest rates and closing costs possible. The company also offers advice to borrowers on what to make of current mortgage news. Now, with the California housing boom leveling off, the company gives its take on the situation and offers advice to those who are still unsure of how to proceed with their home purchase or refinance plans at this time.
Blue Loan Services explains that the current slowing trend in the housing market is due to the fact that most consumers believe mortgage interest rates will continue to rise over the next twelve month range. This is largely due to the speculation that the Federal Reserve will go through with their plans to taper off their bonds purchasing program this September, which had previously been put in place to keep mortgage and other interest rates low to promote consumer spending and speed economic recovery. Rates have already suffered even though the Fed has not, as of yet, decided on when they will start the tapering off of the bonds buying program. Since June mortgage interest rates have risen steadily – and at times erratically – upwards, and most people expect these increases to continue. This is shown clearly in report recently posted on Mortgage News Daily this September 9th:
"The spike in mortgage rates associated with the possibility that the Fed will begin to wind down its asset purchase program later this month has dampened the improving trend in consumer sentiment regarding housing witnessed in our survey since the start of this year," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "The pause in positive momentum is consistent with slowing trends in home purchase contract signings and mortgage applications. Interest rate volatility will likely remain elevated, even after we have more clarity on the pace of the Fed's tapering, due to concerns over the upcoming budget and debt ceiling debates as well as the crisis in Syria."
So what does this mean for California home buyers and home owners? Blue Loan Services points out that while there is a very small chance that mortgage rates could improve (it is not completely out of the realm of possibility, that is) the consensus seems to be that they will not, and instead home loan borrowers will have to look forward to higher rates as time goes by. Because of this, the loan company advises all those who have been planning to purchase housing or refinance their current mortgages that there is really no time like the present to do so. Today’s mortgage rates are still very reasonable, and much lower than what was available a year or more ago, and likely much lower than what will be available soon, as well. Home loan borrowers should take advantage of this by locking in their loan rate as soon as possible.
Blue Loan Services can help those who wish to lock in the current rates to find the best possible loans for their situation and work quickly to get approved so that they can avoid higher rates down the line. Their fast online loan application and documentation portal makes it simple for clients to submit their application and keep track of their loan’s progress. With a reputation for fast, reliable and courteous service, the company’s team of mortgage professionals can be especially useful during this time of rapidly changing mortgage rates.
For more information on how Blue Loan Services can help California home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueLoanServices.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365