CA Mortgage Rates Continue To Rise – BlueLoanServices.com Offers Advice On How Borrowers Should React To The Rate Increases

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Blue Loan Services

San Diego, CA (PRWEB) August 25, 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. Now, as CA mortgage rates continue to rise and experts predicting even greater increases in the near future, Blue Loan Services offers advice for those who have been considering plans to purchase housing or refinance their current mortgages.

The recent high mortgage rates are even more painful for many potential and current homeowners because they are following on the heels of some of the lowest mortgage rates California, and the rest of the nation, have experienced in history. Recent increases are all tied to speculation that the Federal Reserve, which has been tamping down long term interest rates through their bonds buying program, will be tapering off their purchases, some suggest as early as September 18th. These assumptions are understandable, as the Fed had suggested back in June (when rates started to increase faster than anyone had predicted) that they would consider phasing out their asset purchase program if reports showed that the economy was continuing to recover.

The initial panic that ensued after the Fed’s statement caused a jump in mortgage interest rates that no one really expected. Since then, mortgage rates have stabilized somewhat, but sharp increases occurred again when economic reports were released showing data that many feel would not convince the Fed to keep their program running as usual. An article posted on Mortgage News daily this August 19th reports: “… markets continue to take a defensive stance against the prospect of the Fed reducing the pace of their asset purchases. As investors withdraw from bond markets, the prices of mortgage-backed-securities (MBS) fall, forcing lenders to offer higher rates. The combination of the Fed asset-buying speculation, seasonal absences among market participants, and debate over the next Fed Chair nomination is creating a very uncertain environment where traders are more apt to trade according the momentum.”

Because of this uncertainty, many current and potential homeowners are wondering how they should proceed with their mortgage refinance or home purchase plans. Blue Loan Services’ advice for these borrowers is:

• To lock in their rates as fast they can, as interest rates are still quite low even if they are not as good as what was being offered prior to the rapid increases.
• There is no guarantee that borrowers will see these rates again any time soon, and most experts are predicting ever increasing rates from now on. Acting as soon as possible could potentially save borrowers thousands, and even hundreds of thousands, of dollars over the life of their loans.
• Those who need help to quickly find and close the best possible purchase or refinance loan for their financial situation can take advantage of Blue Loan Services’ tried and proven system that has already helped many California homeowners to find the best rates and lock them in as quickly as possible.

For more information on how Blue Loan Services can help 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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