CA Mortgage Rates Stable For The Time Being – Blue Loan Services Looks At How This Might Change Soon

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Blue Loan Services comments on how the government reopening will likely affect interest rates for home loan borrowers.

Blue Loan Services

Blue Loan Services

Blue Loan Services provides wholesale rates for home purchase and refinance loans, as well as access to the most trusted California mortgage lenders and specialized loan products for many years. The company’s website offers a number of tools that homeowners and home buyers can use to find the best mortgage scenarios for their unique financial situations and lifestyles, as well as news on the latest mortgage trends and other stories that affect mortgage rates and home prices. The company, headed by senior loan officer, Brandon Blue, and his father, Robert Blue, is dedicated to serve its customers with honesty, integrity and competence. Most informed mortgage borrowers have been eyeing the current situation in the mortgage world warily, as the shutdown, debt ceiling and delayed economic data have all combined to make for a very uncertain future for CA mortgage rates. Blue Loan Services takes a look at the situation and gives some advice for loan borrowers looking for the best rates for their loans.

First, it is important to note that, while most things are being negatively affected by the government shutdown, as far as rates go the shutdown is not necessarily a bad thing. Since situations like this usually cause instability in the economy, traditionally this would result in lower mortgage interest rates, as inflation and interest rates are inversely related. However, while this would normally be true with most situations that cause instability, the fact is that the shutdown is also preventing rates from going down significantly because the economic reports which are usually relied upon to determine mortgage rates movement have been delayed. Because of this, rates have been more or less at a standstill over the last few weeks, with only slight dips and increases along the way. As a report from Mortgage News Daily, posted on October 11th, says:

“Compared to last week, we saw more volatility in rates, but only in two concentrated doses on Tuesday and Thursday. Even then, the entire month of October has been exceptionally quiet in terms of day-to-day changes for mortgage rates. While this can be frustrating for those hoping to see lower rates, it does make for an easier lock/float decision (not much incentive to float if rates cease moving lower). For those with longer term outlooks, hoping to see some more improvement, it all hinges on the events that unfold after the government reopens. The net effect of the shutdown on the economic data may indeed filter through in the coming months, but the important Employment report that we were supposed to get last week was compiled before the shutdown. That not only means it will be an unadulterated glimpse into the health of the labor market, but also that it can be released fairly quickly after the government reopens.”

Blue Loan Services points out that, while rates have been more or less flat for the past few weeks, this could change very quickly once the government is “reopened”. The window of opportunity to lock in a favorable home finance or refinance rate could quickly be closing, as rates could be much higher once the appropriate data is made available. Those who wish to see what their options are today can utilize the loan company’s fast rate quote tool to see what rates are available for the loan product they are interested in, and they can even get advice on what product would be the best from Blue Loan Services’ team of experienced mortgage experts.

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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