Where Will Mortgage Interest Rates Head Now? Blue Loan Services Gives Its Take on the Stabilizing Mortgage Industry
After the huge mortgage interest rate increase last June, Blue Loan Services advises loan borrowers on the steps they should take at this time.
San Diego, CA (PRWEB) July 30, 2013
Blue Loan Services, one of the leading companies in mortgage lending and providing specialized loan products in California have been providing its customers with the best wholesale home purchase and refinance rates for many years. The company offers the best in full service mortgages with its easy to use and customer-friendly website that provides many instrumental tools to help home owners and home buyers achieve their desired mortgage goals to accommodate their financial standing and livelihood, along with the newest mortgage trends and mortgage related venues. The senior loan officer of the company, Brandon Blue, alongside his father Robert Blue, have been providing their customers with the utmost level of care, honesty, and integrity for many years. As many mortgage experts know by now, the mortgage industry is still recovering from June’s sudden interest rate spike, leaving what is in store for the mortgage industry blurred. With home buyers and owners being left dubious with the idea of locking in their rates, many are wondering “Where will mortgage rates head now?” Blue Loan Services assesses the current mortgage rate turmoil and offers their expertise to borrowers on how to get better refinancing or find the best new home loans when buying.
In a news article post from the NY Times, two statements were made by Ben Bernanke, chairman of the Federal Reserve, regarding the stimulus program resulting in little more than an upset among mortgage analysts and investors alike. Undeterred by the reaction, Bernanke insisted that the statements were intended to be good news, the next step in their program and improvement to the economy. However, this was mistaken as a signal by many analysts that the Federal Reserve would start cutting back on the bond purchasing program, a program that has helped boost the economy through encouraged spending by keeping general mortgage interest rates low. As stated in the New York Times article dated June 20th:
“…the investors whose decisions spread Fed policy through the economy, responded as if the news had been grim. The Standard & Poor’s 500-stock index took its worst two-day dive since November 2011 and has lost 5 percent of its value in the last month. Wells Fargo, the nation’s largest mortgage lender, raised its advertised rate on 30-year loans to 4.5 percent from 3.9 percent in the same period.”
This has forced many home buyers and home owners to recall their initial plans on refinance and home purchasing with their current financial standings, even with interest rates stabilizing after last June’s rate spike, because even with interest rates cooling after the big jump in rates, experts forecast that interests rates will be predicted to rise steadily, albeit slower. In the wake of incident, Blue Loan Services is advising loan borrowers who are hesitant to buy a home or refinance in favor of waiting for lower interest rates in the future, to lock the purchases or refinance as soon as they can, as there will be no guarantee that the rates will go down in the near future. Although many loan buyers are regretting not acting sooner with the previously low loan rates, the loan experts at Blue Loan Services note that mortgage rates are still at relative lows. Home owners and buyers should be reminded to reap the opportunity of lower interest rates while the opportunity is still available as a giant interest leap is still a possible outcome in the future.
For more information on the services and products offered by the Blue Loan Services team, click here or call 1-888-929-BLUE (2583) to speak to an experienced mortgage professional.
CA Dept of Real Estate — Licensed Broker #01094374 NMLS #938365
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