Mortgage Rates Rally Finally Broken
San Diego, CA (PRWEB) April 14, 2014 -- After seven business days of improving mortgage rates, today saw the mortgage rate rally finally snap. Now the question is – should loan borrowers lock in their interest rates before they rise any higher, or is there still a chance rates could go back down this week? Blue Loan Services, a full service California mortgage company that has been providing the lowest rates and best loan products for many years, comments on this current situation and gives some advice for those who are not sure how to best proceed with their home loan plans.
An April 14th report from Mortgage News Daily confirms, “Mortgage rates finally ended a move lower that began 7 business days earlier on April 3rd. The biggest movement during that time was the Employment Situation data on April 4th. While those jobs numbers were actually decent and while rates tend to benefit the most from more downbeat data, markets were positioned for surprise improvement. When they didn't get it, some of that defensiveness abated, and rates went back to their lowest levels in a month. Stock market losses and other movement away from risk in global financial markets helped drive demand for US Treasuries and MBS (The "Mortgage-Backed-Securities" that most directly affect mortgage rates). Greater demand for MBS translates to lower rates. It won't always be the case that stock prices and interest rates move in the same direction, but they have been recently. The current week begins with stocks finding their footing after several rough days. If they maintain that resilience, interest rates could remain under pressure to give up more of their recent gains.”
Blue Loan Services explains that luckily today’s losses in mortgage rates were minimal – about 0.03 percent on average. This means that those who were not able to lock in the gains from the last week and a half will not be losing out much if they decide to settle for the current mortgage interest rates. There is a always a chance rates could move lower, but after hitting the lowest levels in a month it would take some very negative data for this to happen. Because of this, Blue Loan Services explains that the safest bet would be to lock in current rates – this is especially prudent for those who are within 30 days of closing on their loans. However, even new loan applications can reserve these low rates by locking on application with a lender that allows for renegotiation. This would allow them to keep these lower rates in case rates get much higher, but also have the option to lock in a lower rate if rates go down before they close on their home loan.
Blue Loan Services can help borrowers within California who wish to lock in the lowest mortgage rates to find the best possible lenders and 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 easy 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 experienced loan officers can be especially useful during this time.
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 BlueLoanServcies.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
Brandon Blue, Blue Loan Services, http://www.blueloanservices.com/fast-quote/?PRweb, +1 949-291-8468, [email protected]
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