The semi-annual testimony to the
The same article further explains, "In other words, after the smoke cleared, today's market movements confirmed yesterday's weakness, pushing rates higher. That said, none of the recent movement in mortgage rates could be considered "fast-paced." Today's increase just barely begins pushing the boundary between 4.25% and 4.125%. By the end of last week 4.125% was more prevalent as a conforming 30yr fixed rate quote for the best possible scenarios. After these past two days of weakness, 4.25% is more prevalent than it was, but hasn't taken the spotlight yet."
Blue Home Loans explains that yesterday's increase did not move rates higher than the recent range. There has been a lot of talk about this narrow range, and it seems like there will need to be some pretty major circumstances to push rates out of it. Looking ahead, there do not seem to be any major factors that could influence rates one way or the other in a big way. Because of this, the best advice for most borrowers who are deciding whether to lock or float is to float when rates are near the top of the range and lock when they are at the bottom.
Of course those who have shorter lock periods may not have the ability to wait for rates to go back down, in which case locking in might be the best option. Rates are still quite low, although higher than last week, so they can be assured that they will not lose out too much. Those who are just starting their loan process should take the time to find the best loan scenario for their situation. With predictions of rising rates going towards 2015, getting a good loan program now may mean the difference between spending or saving thousands of dollars on a home loan.
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-rates-go-up/prweb12023705.htm
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
SEPTEMBER 22, 2014
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