Markets will be back open for business tomorrow, coming back from a long weekend, and those who have been keeping an eye out for good mortgage rate lock opportunities are probably wondering what they should expect this coming week. So what will mortgage rates do after the long weekend?
Taking a look at how things stood at the end of last week can help borrowers to better judge where rates might head this coming week. An
That same article continues, saying, "From there, liquidity waned severely, leaving the market open to any significant month-end trade flows. In other words, if there were to be even a normal amount of month-end trading around the
Blue Home Loans explains that, on average, mortgage rates were unchanged from one day to the next last Friday. However, had it not been for month-end tradeflows, there is a chance that rates might have improved. This could still happen tomorrow, as mortgage-backed securities (MBS) were actually improved while mortgage rates stayed the same, meaning that there could be some room for positive reprices. Added to that is the fact that global events continue to be some of the largest rate indicators, trumping even domestic economic data in most cases. This situation will likely continue weigh on US mortgage rates in the week ahead.
While rates could get lower, there is also a big chance that they will be the unchanged over the weekend and, of course, there is always the chance that they could be higher. Those who are looking for the best rates will just need to keep an eye on the situation to see what actually happens. Those who do not immediately lock in their rates will want to be sure that they can depend on their loan officer to keep them informed of any situations where locking would be favorable, or the best option to avoid higher rates.
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/prweb12136192.htm
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