Archives for November 2018

Mortgage Rates November 30, 2018

Mortgage rates for November 30th, 2018 – The 10y yield opened the day at the 3.01% level (similar to yesterday) and Mortgage Backed Securities (MBS) opened in slightly positive territory.  Unless things change later this morning mortgage rates will be similar to yesterday. Simply put this has been a great month for bond yields moving lower and mortgage rates as well. Not too long ago we were seeing 5.00% plus from some mortgage lenders; not us though  😀 and now most lenders are below 4.75% and some (like JB Mortgage Capital, Inc.) are even lower. 

Today we had the Chicago PMI report for November and that came in much stronger than expected however bond yields didn’t budge much on the news. There as some big news items this week including the announcement that conforming loan limits in California (and nationwide) will be raised in 2019 to  $484,350.00. We also had a weaker than expected Core PCE and then we had a more Dovish speech from Fed Chairman Powell. Heading into the weekend we have some additional items that may move markets later today or early next week; G-20 meeting and trade negotiations with China.

Next week is going to be a big week (as far as economic reports go). First we have Construction Spending and ISM Manufacturing PMI on Monday. On Wednesday we have the ADP National Employment report for November and ISM Non-Manufacturing PMI for November. On Friday we have the BLS Employment report which includes wages earned, hours worked and the unemployment rate. 

Currently we are seeing 30 year fixed mortgage rates below 4.50%. 20 year fixed mortgage rates below 4.375% and 15 year fixed rates below 3.75%.  Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. At JB Mortgage Capital, Inc. we offer residential mortgage loans on 1-4 unit properties for both purchase and the refinance of a current mortgage. We have loan programs for both fixed rate mortgages and adjustable rate mortgages.  

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau. And when you work with us you’ll work with the same person from application to closing. One person; not 3,4 or even 5 like most mortgage companies.

JB Mortgage Capital, Inc. Reviews:

“It seems that we did it. Thank you for all your hard work. I know this was a tough one and I appreciate your extra efforts. I’ll try to send you as much business as I can. I don’t know what I am going to do with all my free time now that I won’t be calling you 3 times a day. Thanks again.”

Yoram L.
Brentwood, CA

Mortgage Rates November 29, 2018

Mortgage rates for November 29th, 2018 – The 10y yield opened the day at the 3.01% level (big move down in the overnight session) and Mortgage Backed Securities (MBS) opened in positive territory as well. Mortgage rates will be improved today as the market continues to move in a positive trend; something we’ve not seen since May. Before getting too excited about this move; keep in mind that after May’s rally yields and mortgage rates went significantly even higher. Until the 10yr yield breaks (in a significant way) the 2.80% – 2.83% level; being cautiously optimistic is probably the most prudent path to be on. Also; we’re a LONG way away from breaking that level.

Also helping move bond yields lower was the “dovish” tone Fed Chairman Powell had yesterday during a speech he gave.  The biggest take-away was his stance that we are closer to a “neutral” rate which means they are nearly done raising rates. This is more good news for the bond market and mortgage rates but a slight concern for the economy since historically rates are still below average.

Today we had the Core PCE and weekly Jobless Claims reports.  Core PCE (y/y) came in weaker than expected and the revisions to last months report was lower as well. This is good news for inflation which means it’s good news for bonds which is helping us achieve some of the best mortgage rates in nearly 2 months. It’s just another data point that shows inflation is under control and the economy is cooling.  The weekly jobs report came in weaker than expected however we’re still a long way off before it would be a concern for the economy (came in at 234k). If we start seeing 275K+ then we’ll probably hear some market concerns but even then it might taper off if claims level off as well.  On Friday we have the Chicago PMI report for November. 

Currently we are seeing 30 year fixed mortgage rates below 4.50%. 20 year fixed mortgage rates below 4.375% and 15 year fixed rates below 3.75%.  Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. At JB Mortgage Capital, Inc. we offer residential mortgage loans on 1-4 unit properties for both purchase and the refinance of a current mortgage. We have loan programs for both fixed rate mortgages and adjustable rate mortgages.  

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau. And when you work with us you’ll work with the same person from application to closing. One person; not 3,4 or even 5 like most mortgage companies.

JB Mortgage Capital, Inc. Reviews:

“Dear Kevin, Thank you so much for making our first home buying experience a pleasant one. With any home purchase there can be many pitfalls, and I appreciate the way you were able to guide us through the process (even when I was freaking out a little). Your prompt replies to my questions, and eagerness to run different mortgage scenarios for my wife and I really helped us find a mortgage that fits our needs. I will be happy to refer my friends to you. Everything went off without a hitch, and we love our new home!”

Mike F.
Culver City, CA

Mortgage Rates November 28, 2018

Mortgage rates for November 28th, 2018 – The 10y yield opened the day at the 3.06% level (third day in a row) and Mortgage Backed Securities (MBS) opened flat as well. Mortgage rates continue to be stable as market volatility eases. Yesterday we had the Consumer Confidence report (a tad bit lower than expected), CaseShiller housing price index (lower than expected) and a 5yr Note auction.  This morning we had the Q3 Prelim GDP which came in as expected (Fixed Rate Mortgage3.5%). Later in the day we have the New Home Sales and Oil inventories (will oil do lower than $50?) reports.  On Thursday we have Core PCE and weekly Jobless Claims and to finish the week on Friday we have the Chicago PMI report for November. Oil continues to trade below $55 a barrel with some analyst thinking it could push below $50 before the end of the year. Why is this good for mortgage rates? Because lower oil eases the pressure on inflation and low to moderate inflation is good for mortgage rates.

The big news yesterday was the increase in conforming loan limits in California and throughout the country. Starting January 1st, 2019 the conforming loan amount for a 1-unit property will be $484,350.00, a 2-unit property will be $620,200.00, a 3-unit property will be $749,650.00 and a 4-unit property will be $931,600.00.  High cost areas like Los Angeles, Irvine, San Diego will be $726,525.00 for a 1-unit property, $930,300.00 for a 2-unit property, $1,124,475.00 for a 3-unit property and $1,397,400.00 for a 4-unit property. Keep in mind that the loan amounts in these “high cost” areas (above the base limit of $484,350.00) will be considered Super Conforming. Mortgage rates for Super Conforming loans are generally slightly higher than regular conforming loans but lower than Jumbo mortgage rates.

Currently we are seeing 30 year fixed mortgage rates below 4.75%. 20 year fixed mortgage rates below 4.625% and 15 year fixed rates below 3.875%.  Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. At JB Mortgage Capital, Inc. we offer residential mortgage loans on 1-4 unit properties for both purchase and the refinance of a current mortgage. We have loan programs for both fixed rate mortgages and adjustable rate mortgages.  

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau.

JB Mortgage Capital, Inc. Reviews:

“Thanks a lot for your help. I really enjoyed working with you. Thank you for being clear and honest all the way through. It’s a great bonus that the closing costs were so low.”

Best regards,

Rachel M.
Los Angeles, CA

Mortgage Rates November 27, 2018

Mortgage rates for November 27th, 2018 – The 10y yield opened the day at the 3.06% level (again) and Mortgage Backed Securities (MBS) opened only slightly worse than yesterday. Today we have the Consumer Confidence report, 15 year fixed mortgageCaseShiller housing price index and a 5yr Note auction. We might start hearing from companies about about Black Friday/Cyber Monday retail sales as well which may influence bond prices/mortgage rates. The President announced yesterday that he might increase his tariffs on China including products made by Apple. This news added pressure to Apple’s stock price.

On Wednesday we have the Q3 Prelim GDP, New Home Sales and Oil inventories (will oil do lower than $50?).  On Thursday we have Core PCE and weekly Jobless Claims and to finish the week on Friday we have the Chicago PMI report for November. Oil continues to trade below $55 a barrel with some analyst thinking it could push below $50 before the end of the year. Why is this good for mortgage rates? Because lower oil eases the pressure on inflation and low to moderate inflation is good for mortgage rates.

Currently we are seeing 30 year fixed mortgage rates below 5.00%. 20 year fixed mortgage rates below 4.875% and 15 year fixed rates below 4.00%.  Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. At JB Mortgage Capital, Inc. we offer residential mortgage loans on 1-4 unit properties for both purchase and the refinance of a current mortgage. We have loan programs for both fixed rate mortgages and adjustable rate mortgages.  

Call us today for a no cost – no obligation quote at 1-800-550-5538.  We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau.

JB Mortgage Capital, Inc. Reviews:

“Working on this re-finance with you was surprisingly pleasant.
I thought the process was very quick, efficient and painless.
You patiently and quickly answered all my questions, you never pressured me and you did it all with an easygoing manner.

I will certainly forward your info to anyone asking.”

Mark K.
Carlsbad, CA

November 2018 Mortgage Company

In November 2018 you have hundreds if not thousands of choices when it comes to choosing a mortgage company in the state of California.  Low mortgage rates, reputable company, great customer service, and cutting edge technology so it’s a quick close are all things that should factor into your decision making.

What makes Kevin O’Connor at JB Mortgage Capital, Inc. different and unique? Simply putA+ Rating – we offer low mortgage rates AND top notch service. In addition to that we’re one of the few mortgage companies that has an “A+” rating with the Better Business Bureau, “AAA” rating with the Business Consumers Alliance, a “Five Star” rating with Mortgage101 and a “Five Star” rating with Zillow.

We’re different than those big box internet lenders and we’re different from those small banks that just offer great service.  Some might say we’re a combination of the two since we offer great mortgage rates and great customer service! We don’t have a call center for one thing; second we don’t have processors and secretaries nor do we have different departments that handle the different stages of your loan. That means when you work with Kevin O’Connor at JB Mortgage Capital Inc., you work with one person from application to closing.  And since we don’t have secretaries and processors you’ll always have direct access to Kevin via phone, email or fax.

We utilize the latest technology to ensure your loan closes smoothly and quickly. We cover all of California (Northern, Central or Southern) and allow our clients to complete a loan application online, over the phone or a hardcopy.  As for collecting docs; no problem – clients can either upload them to our secure server, email, fax or Fed Ex their supporting documentation. Disclosures can be signed electronically and you’ll always be kept up-to-date with the status of your refinance or purchase mortgage transaction. Ready to close? Great; an independent notary will meet you at a time and location that most convenient for you.

California Mortgage Company