Mortgage Rates Slightly Lower After FOMC
San Diego, CA (PRWEB) June 19, 2014 -- Mortgage rates moved slightly lower yesterday after the announcement from the latest FOMC meeting. Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best rates and loans available for many years, has been keeping track of these recent mortgage rates trends and now comments on the current situation and offers some advice for those who are not sure how to proceed with their home loan plans.
A June 18th report from Mortgage News Daily explains, “Mortgage rates moved modestly lower by the end of the day, but didn't break any new ground on the week. The afternoon brought the week's main event in the form of the Fed's policy announcement. It lived up to its potential as a major market mover, but much of that movement came in the form of short-term volatility. This ultimately left rates within the recent range that has characterized most of the month of June. If we go one step further and consider that yesterday's somewhat abrupt move higher in rate was due to markets quickly adjusting expectations for today's Fed Announcement based on yesterday's CPI, things get even more underwhelming. Reason being: rates rose yesterday as markets braced for tougher talk from the Fed regarding inflation, but regained most of that lost territory today.”
Blue Home Loans explains that many lenders may still reprice to meet current market conditions, which may mean better rates this morning, at which point borrowers will have to assess whether to lock in or not. Of course, the safest course would be to lock in, as rates could go up after this quick move down. Those who are near to closing on their home loans might especially wish to consider locking in, as rates are now closer to the lower levels of 2014, but even those who have not started their loan process yet can benefit from this advice by locking in on application with a lender that allows for renegotiation. This will allow them to keep current low rates in reserve while keeping their options open in case rates dip lower before their loan closes.
Blue Home Loans can help California borrowers who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of today’s lowest mortgage rates and save thousands of dollars on their loans. As the Blue Home Loans website says, "We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs."
For more information on how Blue Home Loans can help California home loan borrowers get approved for their home purchase loan or refinance quickly, please visit BlueHomeLoans.com or call 1-888-929-BLUE (2583) to speak with an experienced mortgage professional.
California Bureau of Real Estate -- BRE #01938557 NMLS #1162386
Brandon Blue, Blue Home Loans, Inc., http://www.blueloanservices.com/fast-quote/?PRweb, +1 949-291-8468, [email protected]
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