Upcoming Economic Reports Make This A “High Risk” Week For Mortgage Rates
San Diego, CA (PRWEB) April 29, 2014 -- Rates were steady to start the week yesterday, but this could all change with the upcoming economic reports schedule for this week, the most important of which is the Employment Situation Report, due this Friday. Blue Home Loans comments on this current situation and gives some advice for those who are looking for the best savings on their mortgage loans. Blue Home Loans, Inc. is a California mortgage company that has been serving the residents of California for many years under the guidance of Robert and Brandon Blue, a father and son team, and has been offering advice to loan borrowers on how to find the best loans, at the best rates, for their unique situations.
An April 28th report from Mortgage News Daily says, “Mortgage rates held almost perfectly steady today, with a handful of lenders offering slightly lower costs while others were slightly higher. Once again, weakness in global equities markets provided a benefit for the bond markets that drive mortgage rates, helping to reverse moderate weakness from earlier in the morning. Without the mid-day stock sell-off, rates would have been slightly higher on the day, but as it stands, several lenders released positively revised rate sheets in the afternoon, bringing the average back in line with Friday's. The most prevalently quoted conforming 30yr fixed rate for best-case scenarios (best-execution) remains at 4.375% in most cases.”
This same article explains, “The current week is a different animal compared to last week. After today, the pace and importance of economic events will continue building until coming to a head with Friday's Employment Situation Report. These events have lots of potential when it comes to pushing rates out of their cozy, narrow range of the last three months. Combine that with the fact that three months is a historically long time to spend in such a narrow range and it makes sense to be increasingly prepared for the range to be broken.”
Blue Home Loans explains that with higher rates being predicted this year, and this week’s run of economic data carrying the potential to break rates out of the lower levels the mortgage world has been seeing recently, the best course of action for most borrowers would be to lock in their loan rates as soon as they can, before they move significantly higher. Those who are near to closing on their loans should especially follow this advice; however, even those who have not started their loan process yet can benefit from this advice by locking in on application, preferably with a lender that allows for renegotiation. This will allow them to keep today’s low rates in reserve while keeping their options open in case something big happens and rates dip lower before their loan closes.
Blue Home Loans can help those 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 hundreds of thousands of dollars on their loans. The company recently experienced an expansion thanks to an increase in clients drawn by rave reviews of the company. As a result, Blue Home Loans, Inc. now offers many exciting new resources and loan programs that are not available with many other companies. The Blue Home Loans website now 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.
CA Dept of Real Estate -- Licensed Broker #01094374 NMLS #93836
Brandon Blue, Blue Home Loans, Inc., http://www.blueloanservices.com/fast-quote/?PRweb, +1 949-291-8468, [email protected]
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