CA Mortgage Rates Rising: Blue Loan Services Offers Advice On How To Proceed With Home Purchase Or Refinance Plans
San Diego, CA (PRWEB) August 27, 2013 -- Blue Loan Services is a full service mortgage company that has been helping residents of California to find the best loan products and home loan rates for many years. The company, headed by the father and son team Robert and Brandon Blue, has been dedicated to serving its customers with honesty, integrity and competence. The Blue Loan Services team of mortgage professionals operates with the goal to provide home loans to its clients while providing them with the lowest interest rates and closing costs possible. Now, with California mortgage rates rising and experts predicting even greater increases in the near future, Blue Loan Services offers advice for those who have been considering plans to purchase housing or refinance their current mortgages.
The first tip for those who wish to find the best mortgage rates despite the very volatile mortgage market right now is to understand why all these rate increases are happening. This will give the borrower a clearer picture of the situation and help them to decide whether it is a good time to proceed with their plans to take out a new home loan or if they should wait it out until rates get lower. Blue Loan Services gives the following overview of the recent events surrounding the rapid rate increases:
“Recent increases are all tied to speculation that the Federal Reserve, which has been tamping down long term interest rates through their bonds buying program, will be tapering off their purchases, some suggest as early as September 18th. These assumptions are understandable, as the Fed had suggested back in June (when rates started to increase faster than anyone had predicted) that they would consider phasing out their asset purchase program if reports showed that the economy was continuing to recover.”
Speculation on which way the Fed will decide (either to continue with the program as usual or to start cutting purchases) has caused instability in the financial world, and thus mortgage rates have increased. Mortgage rates are continuing to increase, especially since recent reports have shown data which, while not entirely positive, many feel is also not dire enough for the Fed to change their minds about the scaling back of their program. An article from Mortgage News Daily posted this August 19th says:
“… markets continue to take a defensive stance against the prospect of the Fed reducing the pace of their asset purchases. As investors withdraw from bond markets, the prices of mortgage-backed-securities (MBS) fall, forcing lenders to offer higher rates. The combination of the Fed asset-buying speculation, seasonal absences among market participants, and debate over the next Fed Chair nomination is creating a very uncertain environment where traders are more apt to trade according to momentum.”
Because rates are continuing to rise and are not expected to go down any time in the near or even far future, Blue Loan Services advises those who have been looking for the right home loan to lock in their rates as soon as possible; ideally upon application. This will ensure that they will not be stuck with the higher rates that are inevitably on the horizon and can save them thousands or even hundreds of thousands of dollars over the long run.
Blue Loan Services can help those who have been searching for the best loan programs and rates in California to quickly find the best loan product for their mortgage scenario and apply for their loans as soon as possible. A reputation for quick closing times and the ability to work out difficult loan processing situations makes this company’s service particularly beneficial in times such as these.
For more information on how Blue Loan Services can help home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueLoanServices.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #938365
Brandon Blue, Blue Loan Services, http://www.blueloanservices.com/fast-quote/?PRweb, +1 949-291-8468, [email protected]
Share this article