December Brings Higher Mortgage Rates For California Borrowers

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Blue Loan Services comments on the rates posted on MND and gives advice for home loan borrowers.

Blue Loan Services

Blue Loan Services

Blue loan Services is a full service mortgage company that has been serving the residents of California with the best wholesale loan rates, the lowest closing costs and the fastest and easiest loan processing available. The company, which is headed by father/son team Robert and Brandon Blue, is proud to offer their clients a wide range of loan products that will help them save the most amount of money over their course of their mortgage loan. In order to continue offering the best loan experience, the company strives to stay up to date with any changes in the financial and real estate industries which could affect mortgage rates or the availability of loan products or benefits to their clients. Now, with December bringing higher mortgage rates for California borrowers, there are undoubtedly those who are wondering where rates will move next and how they should proceed with their home loan plans.

As a December 2nd report from Mortgage News Daily explains: “Mortgage rates moved higher today, bringing them to their worst levels since the morning of September 18th. The average 30yr fixed rate for the most ideally qualified borrowers was already on the move up at the end of last week, but today's weakness solidifies the move up from 4.375 to 4.5% (best-execution).” Blue Loan Services notes that this change should not cause borrowers to panic just yet; but it should be a reminder for those that have not yet locked in their rates that there is no guarantee that today’s low rates, which might seem high in comparison to the record lows of earlier this year, will stay available for very long. The rates that are available right now, though higher than last week, are still in a very reasonable range for many home loan borrowers, which is why Blue Loan Services advises their borrowers to consider locking their rates if they have not done so already.

This is even more true now, as there is a chance that rates could jump much higher if the upcoming Jobs Report shows strong data which would likely prompt the Federal Reserve to start the tapering of their bonds purchases. The article quoted above also says: “Even with today's losses, we're still not back up to the pre-September FOMC levels (though we're getting closer). It's an important consideration at the moment given that this week ends with the Employment Situation Report. If any one report could be a lynchpin for Fed policy, this would be it, and the next FOMC Announcement is coming up just a week and a half later. In other words, Treasuries and MBS (the "mortgage backed securities" that most directly affect rates) are once again getting in position for a potential change in Fed policy. This greatly raises the stakes for economic data this week. Rates can continue to move higher as long as the economic data stays strong”

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 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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