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California Mortgage Rate Volatility Very High Going Into July 2015

While California is thousands of miles away from Greece the local financial markets are going to be influenced by this European country that has been in flux for several years now. Greece owes roughly 313 Billion Euros, and a 1.5 Billion Euro payment is due to the International Monetary Fund on June 30th or they face default. This payment is due on June 30th and we expect to see quite a bit of volatility both before and after this payment or non payment.

When looking at the 10 year treasury rate yield over the month of June 2015 it is quite obvious rates have been all over the map. At the beginning of June the 10 year yield and 30 year fixed mortgage rate shot up quickly. By June 12th the average 30 year fixed mortgage rate was at a yearly high. There was a quick reversal and mortgage rates started to decline right when they were hitting a yearly high. By June 22nd rates had dropped to June lows.

california-mortgage-rates-july-2015

This type of volatility can be very scary to the average homeowner. When looking to refinance or lock in the lowest possible mortgage rates in California most homeowners want to have time to think. In the current interest rate environment that is simply not the case. When looking for low home mortgage rates from any bank or lender in the state of California it takes research; it can sometimes reduce the amount of stress to work with a mortgage broker.

At ABLEnding we will do all the work for you by contacting banks and lenders and getting attractive mortgage interest rate quotes. This could end up helping you save hundreds of dollars a month on a mortgage payment. With the 10 year treasury rate yield being very volatile up until the Greece Euro payment do not expect mortgage rates to hover unchanged. Contact us today so you can lock in some of the lowest mortgage rates in the entire state of California.

We can help you with rates in Thousand Oaks, Simi Valley, Westlake Village and Oxnard. If you are looking for FHA mortgage interest rates this is an area in which we specialize. Call us today at 866-260-2253.

By | 2017-08-28T22:36:35+00:00 June 23rd, 2015|FHA|0 Comments

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