Mortgage Rates May 23 2017

Mortgage rates for May 23, 2017 are set to open similar to Monday’s level as the market has had very little to digest over the last 24 hours.  In fact yesterday there were no major economic readings, which is rare, and the biggest news (while the market was open) was that Michael Flynn will not honor a Senate subpoena and plead the 5th.  That actually moved the market (positive move) but not by much.  Donald Trump continues his mid-east tour as mortgage interest rateinvestigations into his 2016 Presidential campaign continue. The 10y yield is currently 2.25% and last week hit as low as 2.19%.  Mortgage Backed Securities (MBS) have done well in light of the 10y moving higher and that’s why the best California mortgage rates are still available.

Later this morning we have New Home Sales for April and that’s it on the economic calendar (there is an auction however it’s not a market mover).  Tomorrow will be a bit more active with several fairly important readings on the economic calendar.  They include; Mortgage Market Index, MBA Purchase Index, Average 30 year mortgage rate (MBA),  Monthly home prices, Existing home sales,  Gasoline and oil, along with the 2 and 5 year not auctions.  As with Monday, and today we’ll be watching the news wires for anything coming out of Washington that pertains to the investigation in to the President’s campaign. For the last 7-10 days we’ve seen the market move based on what hit’s the news wires so this is becoming increasingly important.  If we receive any important news or updates we’ll certainly update the day’s post with the new information.

If you are looking for a new home or considering refinancing your current mortgage please contact us directly for a no cost – no obligation quote.  We offer both fixed rate mortgages and adjustable rate mortgages along with a wide variety of loan programs.  We have a top rating with the Better Business Bureau and industry low mortgages rates.  Our direct number is 1-800-550-5538.

UPDATED – New home sales were weaker than expected, the Treasure Secretary said 3% GDP will happen over time and the 10y yield has moved above 2.27%

RTRS – US APRIL SINGLE-FAMILY HOME SALES 0.569 MLN UNIT ANN. RATE, (CONS 0.610 MLN) VS MARCH 0.642 MLN UNIT RATE (PREV 0.621 MLN)

RTRS – U.S. TREASURY’S MNUCHIN SAYS GETTING TO 3 PCT GROWTH NOT THIS YEAR OR NEXT YEAR, WILL PHASE IN OVER TIME

JB Mortgage Capital, Inc. 1-800-550-5538.  Questions about how to get a low mortgage rate in California?  Feel free to research our web page that covers that topic or give us a call directly.