SAN DIEGO, Oct. 27, 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. The Loan Love website continues to be progressive in their stance of helping loan borrowers understand the on going events in the mortgage industry with their featured videos and articles. One of these featured articles helps loan borrowers by discussing their live rate quote tool and how loan borrowers can take advantage of it in the future. With the interest rates shrink that followed after the release of a long awaited Employment Situation Report, this article can be especially useful for loan borrowers right now.

The decrease in mortgage rates was met with open arms for many loan borrowers who have been holding off in hopes of finding lower interest rates ever since the mortgage industry was faced with increasing rates over the past few months. A report from Mortgage News Daily posted on October 22nd describes the mortgage rates decrease:

"Mortgage rates fell abruptly today, after the long-awaited Employment Situation Report painted a bleaker-than-expected picture for labor markets.  The report was originally scheduled for October 4th, but was delayed due to the shutdown.  Conforming 30yr Fixed rates (best-execution) moved down to 4.125% for many borrowers depending on the scenario, though some lenders remain at 4.25%. To say that financial markets had been eagerly anticipating the release of this data is an understatement.  Apart from a brief spat of volatility leading into and away from the debt ceiling deal, the absence of this jobs report has been the driving force for rates markets--acting to prevent any convicted movement in either direction. As those barriers were lowered today, and as the report spoke to ongoing labor market weakness, bond markets improved significantly, including MBS, the "mortgage-backed-securities" that most directly influence rate sheets.  When MBS prices improve, rates fall--all things being equal."

Because of these lower interest rates, loan borrowers may be inclined to buy the first desirable loan product they see. However, Loan Love reminds loan borrowers to be cautious when applying for any loan, even with these lower rates. A few steps can be taken when deciding which loan option is best for a borrower's financial stance. In one of their newer articles, Loan Love points out readers: "With so many lenders offering mortgage products today, it can be difficult to know which loan is truly the best deal for you. Fortunately, there are a few relatively simple ways to compare mortgage interest rates, and taking the time to explore at least one of them could mean big savings for you over the life of the loan."

The Loan Love article then provides readers with some useful tips when applying for a mortgage loan. All these tips, alongside the website's Live Rate Quote Tool, can be found by clicking here to view the full guide.

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

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SOURCE LoanLove.com