Mortgage Rates Move Slightly Lower After Yellens Jackson Hole Speech - FOX5 Vegas - KVVU

Mortgage Rates Move Slightly Lower After Yellens Jackson Hole Speech

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California mortgage company, Blue Home Loans, Inc., comments on the current mortgage rates trends and offers advice for those who are seeking the best home loans.

San Diego, CA (PRWEB) August 23, 2014

Average mortgage rates moved slightly lower after Janet Yellens speech in Jackson Hole yesterday. Blue Home Loans, Inc., a California-based full service mortgage company that has been helping CA residents find the best rates and loans available for many years, has been keeping track of these recent mortgage rates trends and now comments on the current situation and offers some advice for those who are not sure how to proceed with their home loan plans.

An August 22nd report from Mortgage News Daily puts the current mortgage rate levels into context. It says, Mortgage rates moved lower for a second straight day following a much-anticipated speech from Federal Reserve Chair Yellen in Jackson Hole. While she didn't break any new ground in terms of what we should expect from Fed policy, there was some temporary volatility in the markets that underlie mortgage rates late this morning. Headlines concerning Ukraine/Russia tension and European market movements all contributed, but by early afternoon, it was all for naught. Bond markets (which include the mortgage-backed-securities that dictate mortgage rates), settled down significantly as the day progressed, leaving the average lender in slightly better shape compared to yesterday's latest levels.

The same article goes on to explain, In the bigger picture, rates are still very near their lowest levels of the year. While Freddie Mac reported that this was the case yesterday (i.e. lowest rates of the year), it was only the case due to the limitations in their survey methodology. The last week in May and the first week in June both saw noticeably lower rates. In fact, even last week itself--which ended with a strong move lower on Friday (not counted in the Freddie Survey)--was just slightly lower on average. That said, at any given moment during this week, chances are good you'd be looking at the same rates as the first four days of last week.

Blue Home Loans explains that whilst mortgage rates are here near the lowest levels of 2014 it might be wise for most borrowers to lock in. This is because rates have not been able to break new lows for nearly three months. This could change at any time, but until it does, the risk of rates moving higher outweighs the reward of rates dropping fractionally to the lowest rates of 2014. Because of this, those who are near to closing on their home loans should consider locking in soon, while those who have more time on their hands may wish to float, but should also weigh this decision carefully.

For those who are just starting out with their loan process, locking on application is always an option, but borrowers may wish to do this with a lender that allows for renegotiation, in case rates turn around before they close their loan. Those who do not immediately lock in their rates will want to be sure that they can depend on their loan officer to keep them informed of any situations where locking would be favorable, or the best option to avoid higher rates.

Blue Home Loans can help California borrowers who are looking for the best rates, lenders and loan programs to find exactly what they need so that they can take advantage of todays lowest mortgage rates and save money on their loans. As the Blue Home Loans website states,

Our goal is to offer the best refinance rates and lowest mortgage payments in minutes. We will beat virtually any mortgage rate quote and our wide selection of loan products are sure to provide the perfect mortgage solution for all of your Real Estate Finance needs. Whether you need help for a debt consolidation loan or you have bad credit, we are your complete mortgage solution for refinance and purchase transactions. Need cash out? Debt consolidation, cash out, and low interest rates are our specialty, regardless of bad credit, foreclosures, or bankruptcy. We know that you have specific needs and we strive to meet those needs with a wide array of refinance and purchase products and most importantly, quality service and individual attention.

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.

California Bureau of Real Estate -- BRE #01938557 NMLS #1162386

For the original version on PRWeb visit: http://www.prweb.com/releases/blue-home-loans/mortgage-rates-move-lower/prweb12116821.htm

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