Mortgage Rates Increase This December

Loan Love comments on the new rates posted on MND and gives some advice for borrowers looking for the best rates today.

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San Diego, CA (PRWEB) December 03, 2013

LoanLove.com is a borrower advice website that sidesteps the stuffy professional language and gives detailed and in-depth loan advice and info in a clear, easy to understand, and even entertaining way, so that both first time loan borrowers and experienced home owners will be able to get the most out of it. With connections to top-rated industry professionals, valuable resource and first class knowledge, the website empowers borrowers to find loans that they will love. As a trusted destination for current news and expert advice, the website is constantly updated to keep abreast of any new developments that could affect home buyers and owners. With the start of December bringing a mortgage rates increase that brings rates to the highest they have been in two months, there are undoubtedly a lot of borrowers who will be wondering how long these new high rates will last and, more importantly, whether they are predicted to go up or down when they do finally move.

As a December 2nd report from Mortgage News Daily, states: “Mortgage rates moved higher today, bringing them to their worst levels since the morning of September 18th. The average 30yr fixed rate for the most ideally qualified borrowers was already on the move up at the end of last week, but today's weakness solidifies the move up from 4.4375 to 4.5% (best-execution).” The article goes on to say: “Even with today's losses, we're still not back up to the pre-September FOMC levels (though we're getting closer). It's an important consideration at the moment given that this week ends with the Employment Situation Report. If any one report could be a lynchpin for Fed policy, this would be it, and the next FOMC Announcement is coming up just a week and a half later. In other words, Treasuries and MBS (the "mortgage backed securities" that most directly affect rates) are once again getting in position for a potential change in Fed policy. This greatly raises the stakes for economic data this week. Rates can continue to move higher as long as the economic data stays strong.”

What this means for many borrowers is that they will have to seriously consider locking in their rates before the data is released (if they have not done so already) or risk the fact that rates may get a lot higher if the Fed decides to taper based on the information provided in the jobs report. Loan Love can help those who wish to find the best loans for their mortgage needs and lock in the best current rates to do so with the Live Rate Quote tool which is made available on the website. This tool allows visitors to the website to quickly find the best loans for their specific scenario and sort through the various options in with a number of criteria in order to find the one that offers the highest amount of savings over time.

With the volatility in rates right now it could be in many borrowers’ best interest to lock in their loan rates or start the loan application process if they have not done so already. With the advice offered in Loan Love’s many articles, and the great loan calculation and live rate quote tools, borrowers will have everything they need to jump start their loan process the right way.

For more information on current rates, and to use the Live Rate Quote tool, please visit LoanLove.com by clicking here.


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