Home Prices Stabilizing – Blue Loan Services Helps Homebuyers And Owners Recover From The Unexpected Rate Increase
San Diego, CA (PRWEB) July 06, 2013 -- Blue Loan Services is a full services 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 serve 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. With home prices stabilizing since last month’s shocking one week rate increase, many homeowners and buyers whose plans of homeownership or refinance had been put on hold because of the change are now recouping and thinking about how they will move forward with their plans.
The sudden increase in mortgage interest rates took even the experts by storm and was caused when statements from the Federal Reserve’s chairperson, Ben Bernanke, made two separate statements about the economy which many misunderstood to mean that the Fed would be scaling back their bond purchasing program, which helps to keep interest rates low. This news sent investors running for cover, and interest rates were jacked up almost over night. A report from the New York Times says:
“The Standard & Poor’s 500-stock index took its worst two-day dive since November 2011 and has lost 5 percent of its value in the last month. Wells Fargo, the nation’s largest mortgage lender, raised its advertised rate on 30-year loans to 4.5 percent from 3.9 percent in the same period.”
However, this increase died down soon after it came to light that the statements were meant to be good news, commenting on the progress of the program, rather than focusing on plans to scale back on Federal Reserve purchases of U.S. Treasury and agency mortgage-backed securities. In a news conference held after the release of the statements, Mr. Bernanke said: “If you draw the conclusion that I’ve just said that our policies, that our purchases will end in the middle of next year, you’ve drawn the wrong conclusion, because our purchases are tied to what happens in the economy,”
But, now, although mortgage interest rates are now more or less stabilized, they are still not predicted to go down to their former low range any time soon. The mortgage experts at Blue Loan Services predict that interest rates will continue to rise, though most likely not as fast as the recent jump. What this means for home buyers and owners is that, if they were planning on purchasing a home or refinancing before the increase, their best bet is to continue with their plans and lock in their rates as soon as possible.
Blue Loan Services, which specializes in home purchase and refinance loans, is more than ready to help these borrowers lock in their rates as fast as possible. The Fast Rate Quote tool and online application and documentation portal, both available on the company’s website free of cost, enable borrowers to find the best loan rates in a matter of minutes and the fast online and personal service from the company helps to facilitate the fastest possible loan processing times. For those who missed the opportunity to get financing before the rate jump, the lesson should be clear: When it comes to applying for a home loan or refinance, the sooner the borrower acts on their plans, the better.
Those who are interested in availing of these services may visit the company’s website by clicking here or call 1-888-929-BLUE (2583) to discuss their loan options with an experienced mortgage professional.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365
Brandon Blue, Blue Loan Services, http://www.blueloanservices.com/fast-quote/?PRweb, 1-888-929-2583, [email protected]
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