Lowest Mortgage Rates California Has Had in Months Available with the Help of Blue Loan Services

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Blue Loan Services explains the recent drop in mortgage interest rates and offers advice to those planning to take out new home loans under the improved rates.

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 recent developments within the mortgage industry resulting in the lowest mortgage rates California has seen in months, Blue Loan Services offers advice to those who have plans of taking out new home purchase loans or refinancing their current home loans.

This new lower rates are the result of the recent decision of the Federal Reserve to hold off on their plans to start tapering off their purchases of treasuries and mortgage backed securities each month. This stimulus program had been keeping mortgage rates low in order to encourage consumer spending which would hasten the recovery of the economy. However, in June when the Fed let out that they were considering cutting back on the program some time in the near future investors panicked and this sent mortgage rates on sharply upward path. This upward movement had continued more or less, as experts speculated about whether or not the Federal Reserve would in fact decide to start decreasing their spending. However, these fears were put to rest last week when the Fed announced that they would abstain from cutting asset purchases for the time being. A recent news article from Mortgage News Daily, published this September 23rd, states:

“Last week's big news regarding the Fed abstaining from any significant policy changes continues to benefit rates. Several speakers from the Federal Reserve shared their opinions on the topic today and the overall tone reiterated that the economy was not yet likely to make the desired progress without full-fledged stimulus. Apart from that, news was limited and market conditions were fairly quiet. This is less likely to be the case as the week progresses and the tone of the economic data should have more of an impact as well.”

As stated, there are still a number of economic reports which could change the outlook of rates if they were to show a strong trend of recovery. But for the time being, homeowners and homebuyers can take advantage of the lowest rates that have been experienced in a very long time. Those who have been on the fence about obtaining a new home loan should definitely reconsider their decision, as these currently low mortgage rates may not be available soon, as is often the case when it comes to mortgage interest rates.

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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