Interest Rates Drop After Jobs Report - Loan Love's Article Provides Helpful Loan Comparison Tips For Borrowers
SAN DIEGO, Oct. 25, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. The Loan Love website has a number of article guides and videos to help loan borrowers understand the on going events in the mortgage industry. With the current interest rates drop, loan borrowers are now more than likely to take interest in securing a new mortgage loan for their home buying needs. But just because these new rates are lower it does not mean borrowers should be hasty in buying the first loan product they see. Loan Love offers readers advice to loan purchasing with some loan comparison tips in a new rate comparison guide.
The recent drop in mortgage rates is a result of a new jobs report being released. As an article from Mortgage News Daily date October 22nd states: "Mortgage rates fell abruptly today, after the long-awaited Employment Situation Report painted a bleaker-than-expected picture for labor markets. The report was originally scheduled for October 4th, but was delayed due to the shutdown. Conforming 30yr Fixed rates (best-execution) moved down to 4.125% for many borrowers depending on the scenario, though some lenders remain at 4.25%. To say that financial markets had been eagerly anticipating the release of this data is an understatement. Apart from a brief spat of volatility leading into and away from the debt ceiling deal, the absence of this jobs report has been the driving force for rates markets--acting to prevent any convicted movement in either direction."
Because of rates being lower than they have ever been in recent months, many loan borrowers are taking this window of opportunity to lock in an interest rate for their home finance or refinance loans. When searching for the many available mortgage products out there, Loan Love's guide can help loan borrowers pick out the perfect loan for their needs with a few essential tips on what a customer should look for when shopping. The article reads: "With so many lenders offering mortgage products today, it can be difficult to know which loan is truly the best deal for you. Fortunately, there are a few relatively simple ways to compare mortgage interest rates, and taking the time to explore at least one of them could mean big savings for you over the life of the loan."
Loan Love's article also goes into detail about mortgage calculators and how loan borrowers can now better understand the loan they are going to get with a bit of number crunching. Checking the loan's APR (annual percentage rate) and GFE (good faith estimate) can also help in determining which loan will help a loan borrower save the most over the lifetime of their loan. "Comparing the costs of multiple mortgages only sounds like a complicated and time-consuming task; the truth is, any of these simple comparison methods takes only a minimal investment of your time, but the results can yield huge savings for you over the lifetime of your mortgage" states the Loan Love article as a final tip for readers.
To learn more on loan comparison tips and how to take advantage of the recent interest rates drop, please visit LoanLove.com for the full article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
News distributed by PR Newswire iReach: https://ireach.prnewswire.com