SAN DIEGO, Dec. 16, 2013 /PRNewswire-iReach/ -- Blue Loan Services is a full service mortgage company that has proudly provided California home loan borrowers with the best wholesale home loan rates, the lowest fees and closing costs, and a wide range of loan products to suit their needs for many years. The company's team of mortgage professionals, headed by the father-son duo, Robert and Brandon Blue, has been dedicated to serving California residents with honesty, integrity and competence with the goal of providing the best possible mortgage products for their needs and the highest possible savings over the lives of their loans. The Blue Loan Services team is also continuously seeking to keep their clients updated on any changes in the mortgage and finance industries which could affect their home loan options. Over the past week, mortgage seekers have been enjoying a California home loan rates rally, which hopefully many have utilized to get low rates for their home loans. However, all good things must come to an end, and it looks like this is the case for mortgage rates due to current weakness in mortgage-backed securities (MBS).
A December 11th report from Mortgage News Daily explains, "After bond markets showed a surprising amount of strength following NFP, we'd discussed to possibility of a more developed bounce back lasting anywhere from 1-3 days and then taking guidance from Retail Sales. Weakness began creeping up in the overnight session, but was fairly manageable for the first two hours of the day. Volatility picked up after 10am, and although we caught a fairly good bounce heading into the noon hour, everything in the PM pointed toward weaker prices. By the end of the day, MBS and Treasuries both jumped on the bandwagon and shed roughly half a point in price. Does this mean we're heading back in the other direction now? It's possible, but tomorrow morning's Retail Sales and other data will probably decide."
Blue Loan Service explains that this short dip in rates was a pleasant surprise for mortgage seekers, as usually a strong jobs report would cause interest rates to rise. However, just because mortgage interest rates are going back up does not mean that those who were not able to lock in low interest rates over the last few days have totally missed the boat. Yes, rates are getting higher, and they are expected to continue doing so for quote a long time. Luckily for home loan borrowers who are currently looking for a loan or going through the loan approval process, rates are not expected to move too drastically until after the upcoming FOMC meeting which will set the pace for rates through the end of this year.
The California loan company advises those who are on the fence about locking in their mortgage interest rates to consider doing so right away since, while it is a remote possibility rates could get slightly better after the meeting, there is an even greater chance that they will start to rise even more. Those who choose to take their chances and float their rate until after the meeting should do so very cautiously, with a close eye on any new developments in the mortgage and finance industries.
Blue Loan Services can help those who wish to lock in the current 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 rapidly changing mortgage rates.
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
Media Contact: Brandon Blue, Blue Loan Services, 1-888-929-BLUE (2583), firstname.lastname@example.org
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SOURCE Blue Loan Services