Mortgage Rates Moving Up After Release Of New Economic Reports

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The new Live Rate Quote tool from LoanLove.com helps borrowers lock in today’s lowest rates before they increase further.

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. Loan Love is constantly providing readers with the latest in mortgage related news with their diverse collection of articles and quick guide videos. With the recent news of mortgage rates moving up after the last few economic reports, the website’s other new tools are also set to be very helpful for loan borrowers.

The sites new Live Rate Quote tool can help borrowers to find and apply for the best home loans for their situation, and lock in the lowest rates today in order to avoid higher rates in the future. As a November 1st report from Mortgage News Daily confirms:

Mortgage rates continued higher today, after breaking a very long, very flat streak following last week's jobs numbers. Like yesterday, today's culprit was stronger-than-expected economic data, this time from the national Institute for Supply Management (yesterday's was the regional Chicago ISM). The losses were more pronounced, however, bringing the most prevalent 30yr Fixed conforming rate quote (best-execution) up to 4.25%. Part of the problem into the end of this week owes itself to the trading levels that ultimately underlie and inform mortgage rates. In addition to economic data and other market fundamentals, trading of a particular security can also be informed simply by the past precedent of that security itself!”

Because of this shift in rates there will undoubtedly be quite a few home loan borrowers who will want to take the opportunity to lock in today’s low rates in case they get any higher down the line. This would be a wise decision for most since, while there is a possibility that rates might head back down after a while, there really is no guarantee and this could be a greater risk than it is worth. The same article quoted above says in their analysis of the situation:

“There's a possibility that rates could bounce back early next week, but it's safer to assume the trend higher will continue until the technical trend is mature. We covered about half of that ground over the past 2 days. From there, and even if rates have bounced back, Friday's jobs report is still dominant, and likely to dictate the the next move higher or lower.”

For those who are not willing to take a chance on waiting to see what will happen, or even for those who simply wish to start shopping around for the right loan so that they can float and wait for their ideal rate, the rate quote tool from Loan Love can be very beneficial. It allows borrowers to instantly see the current rates of dozens of the best lenders that offer loans that suit their criteria. These results can be easily sorted by a number of requirements which makes comparing each loan fast and easy.

For more information on finding the right loan, and to utilize the Live Rate Quote Tool, please visit LoanLove.com.

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Kevin Blue
Loan Love
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