SAN DIEGO, Nov. 13, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The loan advice website has recently released a video helping borrowers understand a more on the mortgage rates increase as of the late. In the video, Loan Love explains how home mortgage loans work and describes in detail what specifically causes mortgage rates to rise.
The video's hostess starts off by proclaiming: "First, they were up, then they were down, and now they're headed back up again. No, we're not talking about this season's hemlines. We're talking about mortgage rates. And unless you've been hiding under a rock for the past couple of weeks or you have absolutely zero interest in financial news, you've undoubtedly heard about how mortgage rates have been spiking upward. Today's news is no different. Given that the recent historic low interest rates were being propped up by a federal government program, an adjustment in those rates -- that is, getting them back to normal levels -- was inevitable. And chances are pretty good that rates are going to go up even more before they finally find their magic "sticking point."
With interest rates on the climb, many home buyers seeking to buy a loan may have felt that they've missed a great opportunity to lock in a perfectly low interest rate for a mortgage loan on their home and thus, feel disheartened from taking on a home loan in the future. This is, however, something potential loan borrowers shouldn't fret over. The video's hostess makes it clear that even with interest rates on the rise, borrowers shouldn't feel deterred from shopping for a loan:
"The main thing to remember is to stay calm and shop smart: there are more mortgage options than ever before, and that means you still have time to get a mortgage that saves you lots of money. So while the increase in rates isn't exactly good news -- especially if you're considering buying a home or refinancing a mortgage in the near future -- it shouldn't cause you to freak out, either."
Attached to the Loan Love video is an article that goes into further detail about interest rates in today's mortgage market and what loan borrowers can do to make the best of their loan purchasing decisions. With a little reassurance to loan borrowers, the article concludes by saying: "Today's interest rates are nothing new- in reality, rates are still near rock bottom if you took an average of the past 15 years. If you haven't guessed by now, they're definitely going up. And going up fast. Act quickly if you're looking to acquire or sell real estate, time is against you (at least in the short run)."
For more on how mortgage rate increases and how they may affect home loan purchases, and to find more tips on acquiring the best home loans, please click here for the full video.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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