Mortgage Rates Slightly Lower for CA Borrowers after Weak Sales Report
Blue Loan Services comments on the current situation and gives some advice for mortgage seekers.
San Diego, CA (PRWEB) February 14, 2014
Blue Loan Services has been helping California home loan borrowers to find the lowest wholesale mortgage rates and fees, the best loan products, and access to the top lenders and real estate agents for many years. As a full service mortgage company, the Blue Loan Services team of mortgage professionals, headed by father and son Robert and Brandon Blue, is dedicated to serving its clients with honesty, integrity and competence. The company is also dedicated to providing updated information to their clients on any developments in the finance or real estate worlds which could affect their mortgage rate or loan options. Now, with mortgage rates slightly lower after a weaker than expected Retail Sales report, many borrowers may be wondering how they should proceed with their home loan plans.
As a February 13th report from Mortgage News Daily explains, “Mortgage rates fell moderately following this morning's weaker-than-expected report on Retail Sales. There were several other considerations that helped rates catch a break today, but this was the most prominent. With the exception of yesterday, today's rates are in line with the highs of the month. The most prevalently quoted conforming 30yr fixed rate for the very best borrower scenarios (best-execution) remains at 4.375%. When adjusted for day to day changes in closing costs, rates fell an equivalent of 0.04% today.”
Blue Loan Services explains that this new move downward is a small victory for mortgage borrowers, as any drop in rates can mean savings on a home loan. However, what is important to take note of here is that the move was only slight, and this means that it does not say much about whether rates will continue downward or if they will start to rise again. Because of this, the loan company advises mortgage borrowers that the best course of action, if they are looking for the best rate, is simply to lock their loan now. There might be a possibility of lower rates, but in the long run rates are predicted to rise, thus locking in now secures today’s low rates, while also allowing for renegotiation in many cases if rates drop significantly before closing.
Blue Loan Services can help those who wish to lock in today’s low mortgage rates to find the best possible loans for their situation and work quickly to get approved so that they can avoid higher rates down the line. Their fast online loan application and documentation portal makes it simple for clients to submit their application and keep track of their loan’s progress. With a reputation for fast, reliable and courteous service, the company’s team of experienced loan officers can be especially useful during this time of uncertainty.
For more information on how Blue Loan Services can help California 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
For the original version on PRWeb visit: http://www.prweb.com/releases/2014/02/prweb11588221.htm