Interest Rates Finally Falling After Months Of Increases - Loan Love Helps Borrowers Make The Most Of The Situation

SAN DIEGO, Oct. 1, 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. Interest Rates continue to dwindle in the wake of a recent announcement made by the Federal Reserve. To help loan borrowers seize the opportunity with interest rates finally falling, LoanLove.com is providing many features on their website such as the live rate quote tool. Using a few simple methods, loan borrowers may use this handy tool to find and compare the best rates for their financial needs.

Many loan borrowers were relieved to discover in a recent announce by the Federal Reserve that they will not be cutting off their purchases of treasuries and mortgage backed securities just yet, both which were intended to support low mortgage interest rates in a recovering economy. With the markets being reassured that the Federal Reserve will continue with their bond purchasing program, interest rates have slowly started to ease up from the increased rates of the previous months. A report from Mortgage Daily News posted September 25th discloses the following:

"Mortgage rates fell to new 3-Month lows today.  That makes this the 11th straight day where rates have held steady or moved lower.  Conforming, 30yr Fixed rates remained at 4.375%  (best-execution) for most lenders with the improvements coming in the form of lower closing costs or higher lender credit.  Some lenders are efficiently priced at 4.25% as well."

There are a few ways loan borrowers can find ample amount of opportunities to grab a great rate for their home mortgage loans. The LoanLove.com site provides tips for borrowers such as:

• Doing home work on all your loan options. Many potential loan borrowers may be lured into buying the first low loan rates they see, but without a background check, taking on a loan can be disastrous. There can often be negative drawbacks to these loans with can equate to more expenses in the long run that are not instantly noticeable. Taking a little time to research on a loan can prevent a borrower from paying more than they need to.
• Comparing mortgage loans with online tools such as mortgage calculators and the live rate quote tool, both which can be found on LoanLove.com. Using these features can help loan borrowers discover the best loan option for their financial scenario with their user-friendly features.
• Locking in the rate on application (which has been advocated the last few months as rates were continuously rising) is not absolutely necessary, as some still expect rates to edge slightly lower. However, Loan Love cautions borrowers against floating too long, as there could be changes to these rates without any prior warning.

These new rates can greatly benefit loan borrowers today and help to pay the financing they need when making closing costs on a home. To learn more on finding the best mortgage interest rates and using a live rate quote tool, please visit LoanLove.com.

Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, contact@loanlove.com

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SOURCE LoanLove.com