Rates have been rising for
The same article explains, “To reiterate this week's recurring theme, bond markets have been struggling to decide on the safest, most useful form of motivation in this uncommon environment. The uncommonness stems from the harsher-than-normal winter weather in much of the country and the fact that financial markets have at least partially accepted it as justification for recently weak economic data.”
Blue Loan Services explains that while the weather may not be fully responsible for the weak economic reports that have been released, there is no way to truly separate the weather-related distortions from reality. The weather also serves to confuse things, since while weak data will be blamed on snowstorms and the like, and be somewhat dismissed, strong data will be seen to have even more significance. So, in a situation like this where rates rise even when data is weak, they would be expected to rise a whole lot higher if data was strong. Because of this, it can be risky for borrowers to float their loan rates in hopes that rates start to go down again.
Mortgage interest rates are expected to increase steadily in 2014, so any dips should be seen as a good chance to lock in a favorable loan rate rather than a turn around in rate trends which will continue indefinitely. Because of this, Blue Loan Services’ advice for borrowers is that it’s always safer to lock in a loan rate. If borrowers do this, and rates do head down, they will often have the option to renegotiate with their lender. However, if rates do go up, they will have no way to get back to the lower rates of the past if they have not locked in.
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
Read the full story at http://www.prweb.com/releases/blue-loan-services/mortgage-interest-rates/prweb11609097.htm
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