Yesterday showed the last big piece of data from what could have been a very big week for mortgage rates – the NFP report. However, despite this report, and the ECB meeting from the day before, both of which had the potential to move mortgage rates in a big way, rates have remained pretty much right in line with recent levels.
That same article continues, "It has ended up being the case this week, that much of the potential market movement associated with this important events actually took place before
Blue Home Loans explains that while there was a lot of speculation about the affect this week could have had on mortgage rates with the highly anticipated ECB meeting, in reality the meeting had already done what it could to move interest rates weeks before it actually occurred. If there was an unexpected outcome from the meeting, things could have gone differently, but overall it was what everyone had expected. The NFP results also fell in line with expectations, meaning rates are staying pretty much at the same levels that they have been for a while. In this environment, it is anyone's guess where the next big motivation for interest rates will come from, and as far as locking or floating goes, the best bet for borrowers is to stay in close touch with their loan officers so that they can get a jump on any new developments.
Those who are near to closing on their loans may wish to go ahead and lock in the current rates, which are just slightly higher than this year's lowest levels. 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
For more information on how Blue Home Loans can help
Read the full story at http://www.prweb.com/releases/blue-home-loans/mortgage-rate-trends/prweb11925450.htm
Most Popular Stories
- Pandora Tumbles in Late Trading
- Sporty Ford Fiesta Fires on All 3 Cylinders
- Stop-Start Engines Save Gas, Reduce Emissions
- World Tensions Don't Curb Enthusiasm for Stocks
- Russia Fears Lasting Damage From Ukraine Crisis
- Visa, Amazon Results Drag Down the Street
- U.K. Economy Surpasses Pre-Crisis Peak
- Hispanic Leader Goes the Extra Mile
- Ohio State Band Chief Fired After Probe
- Shia LaBeouf Plea Deal, Alcoholism Treatment