San Diego, CA (PRWEB) September 24, 2013
LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. One of Loan Love’s most useful features is the live rate quote tool. This resource is especially useful at the moment as mortgage interest rates edge lower and lower after the Fed announced that it would not be decreasing its purchases of treasuries and mortgage backed securities at this time.
This news came last week and took many people by surprise, since it was expected that the Federal Reserve would decide to go through with their plans to start tapering their spending. When news that the Fed was even considering doing this came to light back in June markets responded almost immediately and mortgage interest rates started climbing higher and higher in anticipation of the impending withdrawal of the Federal Reserve’s support. However, this did not happen and as a result rates are slowly falling, at least for the time being. A recent report from Mortgage News Daily says:
“After only being able to claim 6-week lows yesterday, today's rate sheets are the best in at least 2 months (very close to 3 months). Conforming, 30 yr Fixed rates are now down to 4.375% for most efficient combination of closing costs and rate (best-execution) though several lenders have attractive buydowns to 4.25%. With each passing day, we have more and more confirmation that the FOMC announcement and most recent Employment Situation Report marked and confirmed at least a short term turning point for interest rates. This is the consolidation/correction that we'd been hoping for, and we're now a day or two into it.”
However, Loan Love cautions that home loan borrowers should not get too comfortable, thinking that rates will continue to fall indefinitely. Rates will be affected by upcoming economic reports and if enough of these reports show strong enough growth in the economy, the Federal Reserve may decide to go through with plans to taper spending. Just as always, it is important to remember that mortgage interest rates are here today and gone tomorrow, so those who have been waiting for lower rates to find a new home loan should do their research now and try to find the best loan product for their situation so that they can take advantage of these lower rates.
LoanLove.com can help borrowers to do this with their live rate quote tool. This tool allows the borrower to view dozens of loan options that perfectly fit their desired financial requirements, so that they can easily compare the available options and choose the one that best fits their needs. A handy guide is also available on the same page that gives some tips on what borrowers should specifically look for when comparing rates, to ensure that they get the best deal that will help them to save the most amount of money over the long term.
For more information on mortgage rate comparison, and to find the lowest rates available in real time, please visit LoanLove.com and check out the live rate quote tool.