San Diego, CA (PRWEB) March 12, 2015
Mortgage rates have been showing some promising signs of recovery after February and early March threw the low rates of January out the window, so to speak, and a strong overnight session for Treasuries as well as todays weaker than expected Retail Sales data helped CA mortgage rates to hold steady near Marchs lowest levels. California full-service mortgage company, Blue Home Loans, Inc., has been helping clients to gain the maximum amount of savings on their home loans for many years and now takes a look at the recent activity in mortgage rate levels and gives some advice for those who have home loan plans for the near future.
The California mortgage company takes a look at the report from real estate news website, Mortgage News Daily, posted this March 12, 2015, which says Mortgage rates were mixed today depending on the lender, but moved just slightly lower on average. This wasn’t the case this morning as essentially all lenders came out with noticeably lower rates following the weaker-than-expected Retail Sales report. As the day progressed, early gains in bond markets faded, especially after the afternoon’s 30yr Bond auction. While that refers to 30yr Treasuries, the goings-on in the Treasury market always have some effect on the mortgage-backed-securities that dictate mortgage rates. Today was no exception, and as prices fell into the afternoon, most lenders ‘repriced’ to higher rates.
Blue Home Loans explains that while rates are off their best levels of the morning, they are still in pretty good territory and near the lowest levels of the month. The MND article states, The fact that some lenders have yet to reprice likely accounts for the discrepancy between them. If we assume that non-repricing lenders will either reprice before the end of the day or build the weakness into tomorrow’s rate sheets, we’re left with that ‘sideways to slightly lower’ rate situation on average. That puts us very close to the lowest levels in March, seen on the first two days of the month. Most lenders are quoting conventional 30yr fixed rates of 3.875% to top tier borrowers. A few of the stronger lenders are at 3.75% and fewer still remain at 4.0%.”
The California mortgage company advises that those who are looking for a good deal on their home loans should consider applying for their mortgage soon so that they will not miss the opportunity to lock in the best mortgage rates. Right now, borrowers who are near to closing might want to lock in so that they can benefit from recent gains, and those with more time on their hands might wish to risk floating in case rates move even lower in the days and weeks to come. California borrowers who wish to avail of the lowest California mortgage rates can rely on the team of mortgage professionals at Blue Home Loans to help them find the right loan product for their needs and keep them informed of the best time to lock in a great rate that could help save thousands of dollars in mortgage payments. Co-owner of Blue Home Loans, Brandon Blue, says:
I love the personal satisfaction that I receive when I am able to save my clients both time and money–getting them the best deal I possibly can on their home loan. Whether you are looking to purchase your dream home, or want to save money on your existing home, feel free to give me a friendly phone call. I promise that you will not be given some cheesy sales pitch, and that I will listen to your mortgage needs without utilizing any high pressure sales tactics.
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