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Mortgage Rates Increase In December - LoanLove.com Helps Borrowers Find Today's Lowest Rates

SAN DIEGO, Dec. 8, 2013 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that sidesteps the stuffy professional language and gives detailed and in-depth loan advice and info in a clear, easy to understand, and even entertaining way, so that both first time loan borrowers and experienced home owners will be able to get the most out of it. With connections to top-rated industry professionals, valuable resource and first class knowledge, the website empowers borrowers to find loans that they will love. As a trusted destination for current news and expert advice, the website is constantly updated to keep abreast of any new developments that could affect home buyers and owners. Early December has shown new changes in the mortgage world as interest rates increase to the highest they've been in two months leaving loan borrowers worried for the future of their loans. Loan Love takes a look at how long these rates might last and more importantly, whether or not they will go up or down in the days to come.

As reported in a news article  dated December 2nd from Mortgage News Daily: "Mortgage rates moved higher today, bringing them to their worst levels since the morning of September 18th.  The average 30yr fixed rate for the most ideally qualified borrowers was already on the move up at the end of last week, but today's weakness solidifies the move up from 4.4375 to 4.5% (best-execution)." The article goes on to say: "Even with today's losses, we're still not back up to the pre-September FOMC levels (though we're getting closer).  It's an important consideration at the moment given that this week ends with the Employment Situation Report.  If any one report could be a lynchpin for Fed policy, this would be it, and the next FOMC Announcement is coming up just a week and a half later. In other words, Treasuries and MBS (the "mortgage backed securities" that most directly affect rates) are once again getting in position for a potential change in Fed policy.  This greatly raises the stakes for economic data this week.  Rates can continue to move higher as long as the economic data stays strong."

These new changes can be detrimental to many loan borrowers seeking to lock in a low rate. Before the locking in their rates, loan borrowers may now want to seriously lock in their rates before the data is released (if they haven't done so already) or risk the fact that rates may get a lot higher if the Fed decides to taper based on the information provided in the jobs report. Loan Love can help those who wish to find the best loans for their mortgage needs and lock in the best current rates to do so with the Live Rate Quote tool which is made available on the website. This tool allows visitors to the website to quickly find the best loans for their specific scenario and sort through the various options in with a number of criteria in order to find the one that offers the highest amount of savings over time. 

These changeable rates can fluctuate even higher than they are now, so it may be in a borrower's best interest to lock in a low rate or start a loan application process if not done already. Loan Love's many mortgage loan advice guides alongside their mortgage calculators and live rate quote tool can help guide borrowers with all the information they need to ready themselves for a new loan process.

To learn more on the current rates of today, or to use the Live Rate Quote Tool, please visit LoanLove.com.

Media Contact: Kevin Blue, LoanLove.com, 949-291-8468, [email protected]

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SOURCE LoanLove.com

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