Mortgage Rates Continue To Climb Following The Release Of A New Economic Report
SAN DIEGO, Nov. 4, 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. To help readers keep up to date with the latest in mortgage news, the loan borrowing website is consistently providing freshly updated articles and user-friendly guide videos to help loan borrowers stay on top of their mortgage planning. As mortgage rates continue to climb with recent changes in the last few economic reports, loan borrowers may find the Loan Love's innovative tools helpful as of the moment.
One of the many new tools at LoanLove.com is the Live Rate Quote Tool, a feature that is designed to help borrower find the best rate quote and compare the best home loan for their financial needs. Finding the lowest rate now can be pivotal as foreboding news show that interest rates will continue to scale. As confirmed in a November 1st report from Mortgage Daily News:
"Mortgage rates continued higher today, after breaking a very long, very flat streak following last week's jobs numbers. Like yesterday, today's culprit was stronger-than-expected economic data, this time from the national Institute for Supply Management (yesterday's was the regional Chicago ISM). The losses were more pronounced, however, bringing the most prevalent 30yr Fixed conforming rate quote (best-execution) up to 4.25%. Part of the problem into the end of this week owes itself to the trading levels that ultimately underlie and inform mortgage rates. In addition to economic data and other market fundamentals, trading of a particular security can also be informed simply by the past precedent of that security itself!"
While these rates are not set in stone, Loan Love insists that loan borrowers shouldn't hold their breath; Although possible, it is not guaranteed that interest rates will drop back down for awhile. The sensible choice for many home loan borrowers now would be to lock in on the lowest rates they can find while they still can, as rates may continue to grow higher down the road. The same article from the quote above says in their analysis of the situation:
"There's a possibility that rates could bounce back early next week, but it's safer to assume the trend higher will continue until the technical trend is mature. We covered about half of that ground over the past 2 days. From there, and even if rates have bounced back, Friday's jobs report is still dominant, and likely to dictate the the next move higher or lower."
Whether rates will go down or not, loan borrowers can still benefit from the live rate quote tool on the Loan Love website when shopping for a loan. Borrowers can easily find and compare the best rates from a list of loan lending establishments and sort and out the loans that best suit their home buying plans.
For more information on finding the right loan, and to utilize the Live Rate Quote Tool, please visit LoanLove.com.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com