CA Mortgage Rates Hold Firm Despite Government Shutdown – Blue Loan Services Helps Borrowers Lock In Currently Low Rates While They Still Can

San Diego, CA (PRWEB) October 03, 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. Many home loan borrowers are likely wondering if the current government shutdown will affect their chances of getting a decent rate on their home loans. The good news is, despite this situation, CA mortgage rates hold firm. Blue Loan Services explains what is happening in the mortgage industry and gives some advice for those who want to lock in the best mortgage interest rates.

A recent article (posted October 1st) from Mortgage News Daily, explains: “Mortgage rates were flat to slightly higher today, depending on the lender. Overall, rates are still very close to their best levels since June 19th with Friday being the only noticeably better day for a few lenders. It's worth noting that more than a few lenders are in no worse shape than they were on Friday. The movement has been quite modest. The modest movement is somewhat counterintuitive given the clamor of recent headline events and the seemingly dire implications for the economy. One explanation is that financial markets often begin moving in the direction implied by the outcome against which they're defending. That's a pretty confusing sentence, so let's just say this: markets had been guarding against a shutdown by moving lower in rate. In that sense, if the shutdown was avoided, we may well have seen rates move higher more quickly today.”

As, the above article states, the shutdown is not necessarily affecting interest rates negatively. In fact, economic uncertainty has historically been a cause to keep interest rates low. This is good news for mortgage borrowers, as it gives them a little more time to find and lock in the best possible mortgage interest rates. Blue Loan Services warns, however, that borrowers should be cautious and not be too complacent thinking that interest rates will remain at these low rates. While it is true that they could continue at these levels for some time (and there is even a chance they could go slightly lower) there is no guarantee that they will not increase suddenly without prior warning, such as what was seen earlier this year in June.

Because of this, Blue Loan Services advises their clients to start looking for the best loan products for their unique mortgage needs. The home loan company has assisted residents all over California to find and apply for loans that enabled them to get into their homes and benefit from thousands, or even tens of thousands, of dollars of savings over the course of their loans. 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

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