Interest Rates Recover After Fed Nominee Confirmation Hearing

LoanLove.com comments on the recent development and gives advice on how borrowers can take advantage of the new low rates.

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San Diego, CA (PRWEB) November 21, 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. The experts at Loan Love are consistently finding new ways to aid their readers with their mortgage loan issues by providing them with helpful home loan planning tips and strategies. Now, as interest rates recover after the recent confirmation hearing of Janet Yellen, the nominee set to replace Ben Bernanke as the new head of the central bank, Loan Love explains why rates have decreased and how borrowers can find the lowest of these new low rates.

As a November 14th report from Mortgage News Daily says: “Mortgage rates continued lower today following the Janet Yellen's confirmation hearing before the Senate Banking Committee. Yellen is the nominee to replace Bernanke as the Chair of the Federal Reserve, and her stance on monetary policy is tremendously important to bond markets (including mortgage-backed securities, which most directly influence mortgage rates). The most prevalently quoted conforming 30yr fixed rate for ideal scenarios (best-execution) is now well into 4.375%, and at this point it's closer to 4.25% than 4.5% though there are lenders on either side. The past two days have been a big relief for mortgage rates as they've undone a measure of damage done by Friday's jobs report. This sort of strength is not typical following such a big dose of weakness (when the weakness is due to the official monthly jobs numbers).”

Loan Love has written about possible Fed policy changes before, and notably the Federal Reserve’s Bond Buying Program, which had been keeping rates artificially low in order to boost the recovery of the economy. When it was let out that the Fed was planning to start tapering their purchases earlier this year, the market reacted in anticipation and the record low mortgage rates of the time quickly rose. Things stabilized after chairman Ben Bernanke qualified his earlier statements, saying that the Fed would only start tapering once the economy showed appropriate recovery. Ms. Yellen’s remarks at her confirmation hearing reassured investors that the new chair would continue to keep up the Fed’s purchases of bonds until evidence of sufficient economic growth is available.

This is great news for home loan borrowers who have been looking for the right time to put in for a new loan. The low rates can help them to find the most affordable financing for their home purchase or refinance loans, but they should still do their best to shop wisely so that they can benefit from the best loan at the best rate. LoanLove.com’s new Live Rate Quote tool allows borrowers to quickly find and compare between dozens of the best loan offerings for their particular loan scenario. Visitors to the website may sort their results by a number of criteria, such as the posted rate, APR, closing costs and other fees, as well as estimated monthly payment and a number of other tags. This allows for easy comparison of all aspects of the loans, so that the borrower can find a loan that they will truly love.

For more information on finding the best home loan at today’s low rates, please visit LoanLove.com.


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