Bond markets are just slightly weaker this morning, but there does not seem to be much motivation for significant changes today. This means that there may be a slow afternoon ahead for mortgage rates, as bonds, more specifically mortgage-backed securities (MBS), are responsible for the ups and downs seen in mortgage interest rates.
Blue Home Loans explains that rates could go slightly lower or higher today, but are not likely to stray much from yesterday's levels. As explained yesterday, some lenders may be pricing in gains seen from yesterday's better than expected 30-yr Treasury auction this morning, so those who floated overnight may want to check in with their loan officers. If today does go without much change, next week might provide more motivation for markets to move more definitively one way or another.
For the time being, however, rates are still near the lower end of the spectrum when it comes to 2014 mortgage rates. This means that those who are near to closing on their home loans may wish to avoid losing any of these gains to a short burst of higher rates and instead just lock in now. Even those who have not started their loan process yet can benefit from this advice by locking in on application with a lender that allows for renegotiation. This will allow them to keep current low rates in reserve while keeping their options open in case rates dip lower before their loan closes.
Blue Home Loans can help
As the Blue Home Loans website says, "We make finding a loan simple because we have virtually every loan program available, regardless of the type of mortgage you are looking for. Whether you are dealing with bad credit, foreclosure, bankruptcy, or low credit scores, we can help you. It only takes us five minutes to find the right program that fits your needs."
For more information on how Blue Home Loans can help
Read the full story at http://www.prweb.com/releases/blue-home-loans/mortgage-interest-rates/prweb11944777.htm
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