Yesterday mortgage rates recovered slightly from the increases of earlier in the week, but overall mortgage rates were just slightly higher on average compared to last week.
The same article continues, "The theme for this past week turns out to have been the culmination of a short term trend higher in rates, beginning in late May. The most aggressive days of that move were in the previous week, but Monday and Tuesday of this week kept the pressure on. This raised the possibility that the uptrend would continue, but the slowing pace provided hope for a correction. As of yesterday, we finally got the drop in rates needed to interrupt that trend. This also opened the door for a deeper correction if rates could have improved today. But because we instead saw the move slightly higher and sideways, the best characterization for rates at the moment is that the recent move higher has run its course, but no new trend has been decided on yet."
Blue Home Loans explains that in the current situation there is not much to look forward to for those who decide to float. As of now, there are no really pressing factors which could push rates very far one way or the other, except for unplanned situations such overseas unrest and the like. Despite this lack of motivation and the fact that the decision to float or lock does not seem as urgent as it might usually seem, those who are near to closing may wish to lock in anyway, as today's rates are still near the lower end of 2014 mortgage rates and for all anyone knows the next trend in rates could have these levels creeping up again.
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
"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/prweb11945466.htm
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