San Diego, CA (PRWEB) June 02, 2013
LoanLove.com recently released a guide for those seeking to find the best interest rates 2013 has to offer. This new article covers the basics of how to determine the best time to lock in a rate, which is very important information for those who are seeking the best rate for their home purchase loan or who are planning to refinance their current mortgage.
In keeping with Loan Love’s goal of providing information in an easy to understand and entertaining way, this article gives tips on predicting interest rates in way that will be useful to the average home owner. The information provided, while detailed and complete, is explained in plain English so that those who would like to learn how to judge which way interest rates will turn do not need to be mortgage experts or understand a lot of industry speak. Loan Love’s mission is simple: to help home owners to find loans that they will love. In keeping with this mission they have provided this information in a way that is accessible to all.
So, will interest rates go up or down? LoanLove.com’s new article looks at the three biggest indicators which industry experts use to help evaluate the economy. These indicators can give consumers a fairly good idea of whether interest rates are going to rise or fall – and that can be very valuable information to anyone interested in buying or refinancing a home. However, when news about these indicators is shown on TV or online, most home owners will miss the opportunity to utilize the information, simply because they feel it is over their head and too complicated for them to make use of. This is simply not true.
The three economic indicators that LoanLove.com covers in this article are:
GDP – Gross Domestic Profit
Released four times a year, the GDP reflects the dollar amount of all the goods and services that were produced and sold by companies located in the U.S. during the preceding quarter. An upturn in this area will often cause interest rates to rise, while the opposite will often mean a drop in interest rates.
CPI – Consumer Price Index
This is one of the primary indicators of inflation, which will usually mean higher interest rates. To determine the CPI, analysts look at the price of thousands of products within the last month to determine how those prices have shifted. When the CPI is high or there’s an overall increasing trend in the CPI, that’s considered an inflationary indicator, which can cause interest rates to rise. A decreased trend in this area will usually cause the opposite effect.
This indicator offers data on overall employment, hours worked and earnings. Like the other two indicators, high monthly increases or an increasing trend are considered inflationary, and can cause interest rates to rise; lower numbers often indicate a drop in rates.
To read the full Loan Love article and find out more about these interest rate indicators and how home owners can use this information to find the best interest rates in 2013, click here.