Mortgage Rates In California Steady Ahead Of Important December Jobs Report

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Blue Loan Services comments on the recent rates posted at MND and gives advice for borrowers at this time.

Blue Loan Services

Blue Loan Services

Blue Loan Services, a full service California mortgage company that has been offering the lowest wholesale rates and best loan products for a number of years, strives to provide the very best loan experience and mortgage deals for their clients. 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. In order to continue providing the best services to California clients, the company also stays on top of all new mortgage products and trends, especially any changes in mortgage rates, which enables them to guide borrowers in making the most informed decisions regarding their mortgage loans. Now, with mortgage rates in California being more or less unchanged over the past week, many borrowers may be wondering whether they should wait for better rates to move on their home purchase or refinance loan, or if they should take the opportunity to lock in the current rates.

As a November 25th report from Mortgage News Daily states:

“Mortgage rates were steady to slightly lower today despite some volatility and weakness in the Secondary Mortgage Market. This means that MBS prices (the mortgage-backed-securities that most directly affect rates) moved higher and lower at a fairly quick pace, and ultimately settled into territory that would indicate slightly higher rates. In fact, several lenders did undergo mid-day price changes that raised costs for existing rates, but not so much as to push rates themselves higher.”

With Thanksgiving shortening the business week, Blue Loan Services notes that it is not very likely that rates will change that drastically until next week. However, as any mortgage professional can attest, rates can change overnight for unexpected reasons, so borrowers also need to be aware of this. The MND report also says:

“As we discussed on Friday, this week isn't likely to see any excessive movement ahead of the extended weekend. That's not to say that there couldn't be a shake up in the next 2 days, but in general, the preference among market participants will be to file toward the exits in as orderly a fashion as possible. The downside of this exodus is that there will be fewer and fewer active market participants as the week progresses. That's a much smaller overall cohort than, say, stocks or Treasuries, and it can make for more volatile movement in some cases. The bigger consideration continues to be the economic data in the following week, especially the Employment Situation Report on Friday, Dec 6.”

What does this mean for those who are applying for a loan? Blue Loan Services explains that the upcoming jobs report will most likely be the factor that pushes rates either up or down. Borrowers that are near closing might want to take a risk of floating their loans, but those who cannot afford to take that risk could be better off locking in their rates now while they are still relatively low. Blue Loan Services can help those who wish to take advantage of today’s low rates to find the best loan product for their needs and quickly work to process the application and get it approved.

With a reputation for fast, reliable, professional and courteous service, the California company provides all borrowers need for the fastest and easiest loan experience, which can mean the difference between hundreds of thousands of dollars spent or saved over the course of a mortgage loan. For more information on how Blue Loan Services can help California home loan borrowers get approved for their VA 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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