Knowing when to lock your 30 year mortgage rate can seem like a total crap shoot! I’m here to tell you that its not! I’m Chris Reese, the California Mortgage Hero and Certified Mortgage Planner. I have my thumb on the pulse of the mortgage rate market. I do this by research and by monitoring the mortgage backed securities market which is the predominate driver of 30 year mortgage rates. Here’s a picture of a candlestick chart for the MBS market at the time of this post.
I help each of my clients plan a rate locking strategy based on data from charts like the one above but there are also many add’l factors to take into account. We live in a world economy and turmoil in the world, whether its political or financial, can have an adverse effect on the 30 year mortgage rates. It takes a competent mortgage planner to decipher the effects on the market as news will always trump technical analysis. Then there are personal circumstances that will also dictate how we plan an individual client’s rate lock strategy. The client might be very adverse to risk and may also be at risk of not qualifying for their mortgage if rates were to change dramatically. Other clients might be very comfortable with risk, almost to the point of treating locking their rate vs. floating like throwing the dice on a craps table. Then there are clients that fit everywhere in between those 2 extremes. Some clients are also not doing a 30 year fixed rate mortgage and the fluctuations on adjustable rate mortgages is not as vast. In other words, the ARM loans aren’t as volatile from day to day as a 30 year mortgage.
Regardless of your situation, type of loan, or adversity to risk, I can help you. As a Certified Mortgage Planning Specialist and Certified Mortgage Coach, I have the experience, knowledge, tools, and technology to help you plan the best mortgage and rate locking strategy for your situation. Maybe you just need a quick quote on a 30 year mortgage rate, or maybe you need a full mortgage review or Property Value Analysis? Maybe you just need to get pre-approved so that you can go out house shopping with your Real Estate Agent? Contact the Chris Reese Mortgage team at 916-502-1656. You can also apply on line for a mortgage loan, request a free property value analysis or mortgage review and even request to be added to my daily rate update list at http://www.SacramentoHomeLoanSpecialist.com. I look forward to delivering you the best service in the industry. Have a SUPER DAY!
When Is the Right Time to Lock in Your 30 Year Mortgage Rate? - Mortgage Tip
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