San Diego, CA (PRWEB) October 08, 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. Finding the best interest rate may sometimes be difficult for loan borrowers with the housing market being in a constant flux. However, once the borrower knows what to expect, finding a good loan rate is a much simpler task. In order to help their readers better understand the ups and downs that today’s interest rates seem to be taking, Loan Love has released a new video that explains why interest rates have been so erratic.
The host of the video explains: “First, they were up, then they were down, and now they're headed back up again. No, we're not talking about this season's hemlines. We're talking about mortgage rates. And unless you've been hiding under a rock for the past couple of weeks or you have absolutely zero interest in financial news, you've undoubtedly heard about how mortgage rates have been spiking upward. Today's news is no different.”
The video goes on to explain that the rise in rates is due to the fact that the recent historically low rates were simply being propped up the Federal Reserve’s bonds buying program. Since this program has been set to start tapering as soon as the economy improves, rates going back up to their “normal level” was inevitable. The video also notes that rates will likely go up even more before they find their “sticking point” and level off, more or less. However, this should not be a cause for panic. As the hostess of the Loan Love video reassures the watchers, there are more mortgage options available then ever, which means that if borrowers keep calm and shop smart they will still be able to find a mortgage that can save them a lot of money.
The video hostess concludes: “So while the increase in rates isn't exactly good news -- especially if you're considering buying a home or refinancing a mortgage in the near future -- it shouldn't cause you to freak out, either.” This is solid advice for those who have been contemplating taking out a home loan but who have been put off by the higher rates of the last few months. Rates are still rather low and are much better than what was available even a year ago, so those who would like to get into their new home or refinance their current home loan, should act now to find the best home loan deals.
For more information about today’s mortgage interest rates, and to take a look back at some of the financial “bubbles” throughout history, please click here.