Mortgage Rates Finally Heading Back Up

Share Article

California mortgage company, Blue Home Loans Inc. comments on the current mortgage rates trends and gives some advice for those who are seeking the best home loans.

Mortgage rates finally rose slightly today, after surprising everyone by going down to six month lows and staying there since last week. This new direction is not really that surprising, but it could be a signal to those who have not locked in their rates yet, that they really should not wait too much longer. Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best home loan rates and loans available for many years, comments on the current situation with mortgage rates and offers some advice for those who are not sure how to proceed with their home loan plans.

A May 9th report from Mortgage News Daily explains, “Mortgage rates rose today, pulling back just slightly after spending 6 of the last 7 days in an aggressive move to the lowest levels in more than 6 months. There were no significant events for markets to consider, leaving this bounce to stand as more of a correction to the previous strength. In other words, today's higher rates are a product of normal market behavior and are not 'event-driven.' The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains split between 4.125% and 4.25%. Today's move equates to an effective increase of 0.03%.”

Because of this move upwards for mortgage rates, Blue Home Loans advises that it might be best for most borrowers to lock in their rates at the soonest opportunity. Rates are still relatively low right now, but they could get higher as the new week rolls along. Those who are near to closing on their home loans should especially consider locking in the currently low mortgage rates available, but even those who have not started their loan process yet can benefit from this advice by locking in on application, preferably with a lender that allows for renegotiation. This will allow them to keep current low rates in reserve while keeping their options open in case something big happens and rates dip lower before their loan closes.

Blue Home Loans can help those who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of today’s lowest mortgage rates and save thousands of dollars on their loans. As the Blue Home Loans website says,

“We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs.”

For more information on how Blue Home Loans 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.

California Bureau of Real Estate -- BRE #01938557 NMLS #1162386

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Brandon Blue
Visit website