Current Mortgage Rates

Mortgage Rates For January 16, 2019

Mortgage Rates At The Open:

Mortgage rates will start the day under pressure as both the Mortgage Backed Securities market and Treasuries are selling off to start the day. That being said; bonds are in their recent range to start the day which is a positive for mortgage rates. As mentioned yesterday, bonds and mortgage rates have been in a range since January 8th. After the sharp move down it’s good to see some stability return and ultimately this is good for mortgage rates. Are there still risks for mortgage rates moving back up? Absolutely, things could change drastically without notice (it’s happened in the past) however the overall outlook for mortgage rates is more positive than negative.

Economic Data:

Today we were supposed to have Retail Sales for December, Export prices and Import prices for December however due to the government shutdown those reports will not be issued today. Yesterday we had the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. All three report came in below expectations however the weaker reports had little to no affect on Mortgage Backed Securities. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January. To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook.

Currently We Are Seeing:20 Year Fixed Rate

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Please keep in mind that mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. Also things like obtaining cash out, lower credit scores, higher Loan-To-Value ratios, rental properties and the subordination of a second mortgage will cause in an increase in your mortgage rate. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website.

The Best Mortgage Lenders For Refinancing:

Finding the best mortgage companies in California is not as hard as you think. It starts with locating companies and Loan Officers that have a solid and verifiable reputation. Working with a Loan Officer that has at least 5 years experience is also key. Where do you start to look to find the best mortgage lenders for refinancing? We always suggest to got to the longest most respected consumer advocacy group first; the Better Business Bureau. If a company has less than an A rating I highly suggest you dig a little further into their history. If a company has less than a B rating I personally would look elsewhere. Additional options might be Zillow, Yelp and Mortgage101. And you can verify a Loan Officers 30 Year Fixed Mortgage Rateexperience easily; just go to the National Multi-state Licensing System’s website (NMLS) and you can see the Loan Officer’s job history.  Then you can go to the California Department Of Real Estate’s website to check the status of both the company and the Loan Officer. All this takes less than 5 minutes and literally could save you thousands of dollars on your next refinance transaction.

JB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates For January 15, 2019

Mortgage Rates At The Open:

Mortgage rates will start the day at similar levels too yesterday as the bond market opens in positive territory. Mortgage Backed Securities have been holding their own lately and appear to be trading in a range since January 8th. Moving forward mortgage rates will respond positively to continued 15 Year Fixed Mortgage Ratestability in the Mortgage Backed Securities market. While we all want bonds to rally and mortgage rates to move lower however for the long term health of the market its good to have periods of leveling out. The 10y Treasury opened the day at the 2.70% level and has since moved lower to 2.90%. Later in the week we have the Phill Fed Index which might have some impact on Mortgage Backed Securities and mortgage rates before we head into the weekend.

Economic Data:

Today we have the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. All three report came in below expectations however they’re not “major” economic reports so they probably won’t affect mortgage rates. On Wednesday we have Retail Sales for December, Export prices and Import prices for December. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January. To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook.

Currently We Are Seeing:20 Year Fixed Rate

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Please keep in mind that mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website.

Credit, Capacity And Collateral:

It’s the three C’s of underwriting a mortgage loan application. Most borrowers have probably never heard about the three C’s (in fact most Loan Officers too) despite it being the backbone of underwriting. Credit, Capacity and Collateral determine the mortgage rate you’ll qualify for so it’s important you have 30 Year Fixed Mortgage Rateall the information there is about understanding the three C’s. When I get asked “What are the current mortgage rates?” I always try to communicate to people that it’s not as simple as they’re expecting it to be. On a previous page Koloans.com we go into this and how to best understand the three C’s. Credit – what’s your credit score and your payment history listed on your credit report. Capacity – this has to do with your ability to repay the loan (income/debt) and Collateral – this has to do with the current value of your home.

JB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with theA+ Rating Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates January 14, 2019

At The Open:

Mortgage rates will start the day improved from Friday as Mortgage Backed Securities (MBS) market starts the day in positive territory. The 10y Treasury yield opened the day at the 2.67% level after finishing Friday at 2.70%. Seeing bonds move lower in recent days is a positive sign for mortgage rates and it possibly indicates some stability is entering the market after the sharp move down. It appears two 30 Year Fixed Ratethings are contributing to the strength in bonds; global economic slowdown and a week open to the stock market led by a much weaker than expected earnings report from Citigroup. Today is the start of earnings season for companies so we may see some “fireworks” if companies come out with stronger or weaker than expected earnings. That can influence the bond market if the move in stocks is strong enough.

Economic Data:

There are no major economic reports on Monday. On Tuesday we have the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. On Wednesday we have Retail Sales for December, Export prices and Import prices for December. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January. To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook. One thing to keep in mind is that certain reports will not be released this week (ie Retail Sales) due to the government shutdown. As for bonds and mortgage rates; the big report for the week will be the Philly Fed Index. Also something to keep an eye on his how the stock market reacts to the start of earnings season. While not a specific economic report; the bond market might react to potential swings in stocks if earning reports is dramatically different than what investors are expecting. As mentioned above; we’re already starting off with a much weaker report from Citigroup which is pushing stocks down at the open.

Currently We Are Seeing:20 Year Fixed Rate

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Please keep in mind that mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website.

Government Shutdown:

It’s official this is the longest government shutdown on record (24 days). Bond markets continue to ignore the shutdown as we move further into January with no end in site. Breaking with the President, several Republican Senators have said the government needs to reopen with or without the border wall. And the House Freedom Caucus has advised the President not to declare a “National Emergency” as it would set a dangerous precedent going forward.

15 Year Fixed RateConventional Vs. FHA Mortgage:

Understanding the difference between a Conventional mortgage and a FHA Mortgage is important. A Conventional vs. FHA mortgage comparison is something we’ve covered previously on Koloans and we also include information on “conforming” mortgage loans.

JB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538. You can also connect with Mr. O’Connor on Twitter: @Rates01 If you are considering a refinance of your current mortgage or the purchase of a new home your timing could not be better. Mortgage rates are near their one year low.

Mortgage Rates For January 11, 2019

At The Open:

Mortgage rates will start the day near their recent lows as the Mortgage Backed Securities (MBS) market starts the day in positive territory. Both 30 year fixed and 15 year fixed rates remain near their recent lows. The 10y Treasury yield opened the day at the 2.71% level after hitting 2.74% yesterday. For now it appears the 2.70% – 2.75% is a short term range for the 10y yield however that could change as we’re seeing the 10y yield move down post CPI report. The CPI report Lowest Refinance Ratesmeasures inflation in the economy and bond traders and the Fed watch it closely.

Economic Data:

Today we had the very important Consumer Price Index (CPI) report which came in at expectations. After the report the 10y yield moved down to 2.70% so the initial reaction to the report is positive which is good for mortgage rates. As for next week; there are no major economic reports on Monday. On Tuesday we have the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. On Wednesday we have retail sales for December, Export prices and Import prices for December. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January. To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook.

Currently We Are Seeing:30 Year Fixed Rate

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Please keep in mind that mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

20 Year Fixed RateConforming Loan Limits:

Last November conforming loan limits were raised nationwide. This is especially good news for California. Having higher conforming loan limits allows more borrowers to access lower mortgage rates thus potentially saving them thousands of dollars in interest. The new conforming loan limit for a one unit property is now $484, 350.00, a two unit property is $620,200, a three unit property its $749,650 and a four unit property it’s $931,600.00.

30 Year Fixed Rate Vs. A 15 Year Fixed Rate:

When a homeowner or a homebuyer is deciding between a 30 year fixed rate or a 15 year fixed rate it’s important to remember your goals with the mortgage you’re taking on and what kind of lifestyle you lead. It’s great to have a low payment (30 year) however what are you doing with the money you’re saving by not having a 15 year? Paying off your house early is fantastic (15 year). However it’s no fun being stressed every month while you scrape by paying a larger payment on the home.

Government Shutdown:15 Year Fixed Rate

As everyone knows the government is still shutdown. There is lots of talk and blaming the other side but no real solutions. Thankful it’s not negatively affected mortgage rates however hundreds of thousands of government workers continue to go without a paycheck. According to some news reports the President is considering using emergency storm funds to pay for building a wall at the southern border. Also some Republican politicians are urging him to invoke “emergency” powers to pay for the wall despite the President admitting there really is no emergency.

A+ RatingJB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates For January 10, 2019

30 Year Fixed RateAt The Open:

Mortgage rates will start the day better than yesterday afternoon as both Mortgage Backed Securities and Treasuries are set to rally at the open. In the overnight session of trading the 10y yield pushed below 2.70%. While yields and rates have pushed higher in recent days the overall movement has not been that bad considering the plunge from 3.25% down to 2.54%. We’ll have to see what happens but it appears the market might be stabilizing which is a good thing for mortgage rates. Lenders much prefer a stable market than a volatile market. The 10y auction yesterday was strong which has helped keep a lid on bond yields moving up.

Mortgage Applications Survey:

After a dismal report last week (which was not surprising) the Mortgage Purchase and the Mortgage Refinance Index both  jumped significantly. It appears more and more people are taking advantage of the low mortgage rates that are available. Those looking to refinance their current mortgage, that purchase a home in the last 6-12 months, are especially seeing some benefit with where current rates are at.

Economic Data:20 Year Fixed Rate

Today we have Wholesale Inventories, weekly Unemployment and Wholesale Sales. Tomorrow we have the very important Consumer Price Index (CPI) report which could be a market mover. As for next week; there are no major economic reports on Monday. On Tuesday we have the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. On Wednesday we have retail sales for December, Export prices and Import prices for December. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January. To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Please keep in mind that mortgage rates adjust daily; sometimes they adjust multiple 15 Year Fixed Ratetimes in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

The Lowest Mortgage Rate We Can Offer:

We continue to streamline our business model to ensure we can offer the lowest mortgage rate we possibly can. From utilizing the latest technology to our personal one-on-one service; we believe we have one of the most cost affective and customer focused operations in the mortgage industry. A recent study found that millions of Americans can lower their mortgage rate by over .50% if they take advantage of the current market. Fixed mortgage rates are the most attractive right now.California Homes To Refinance

Home Loan Rates In California:

As we move further into 2019 home loan rates in California are sitting at levels better than what was being offered just a few short months ago. The lowest refinance rates in California can usually be obtained with top rated mortgage companies (see Better Business Bureau). You’ll want to avoid companies with no rating or a bad rating with the Better Business Bureau. If a company has a bad rating with the BBB there probably is a good reason as it takes a lot of complaints from customer to push your BBB rating lower.

Government Shutdown:

Yesterday the President met with Nancy Pelosi and Chuck Schumer. The meeting end with Trump leaving in the middle of the meeting and then tweeting the meeting was “a total waste of time”. The government shutdown affecting mortgage rates is not really an issue right now. However the longer this goes on the greater impact it will have on our economy. Hundreds of thousands of Americans are not getting a pay check right now and that means they’ll be spending less.

JB Mortgage Capital, Inc.JB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates For January 9, 2019

At The Open:

Mortgage rates will start the day on the defensive as both the Mortgage Backed Securities and Treasuries open the day in negative territory. Generally speaking; mortgage terms will be a bit worse (loan costs/fees) to start the day. Yesterday Treasury yields pushed higher however Mortgage Backed Securities were a little reluctant and stayed relatively flat to slightly worse Low 30 year fixed mortgage rateafter the morning hours. At the open we’re seeing the 10y yield at 2.73% and FNMA 4.0 is at 101.82.

Trade Talks With China:

Lots of rumors however not much news. Talks went for three days and nothing significant was announced. Many had hoped the recent discussion would lead to a trade deal or at a minimum a “trade truce”. Currently we’re not seeing a significant affect on Mortgage Backed Securities and mortgage rates. As time goes on it’s becoming more evident that this is an extremely complex issue that will take time to resolve. While both economies are starting to feel the affects of a “trade war”, China’s economy has seen a greater slowdown compared to the United States.

Refinance In California:

Starting off 2019; refinance terms are very attractive compared to the previous 6-12 months. Making the decision to refinance is an important one and at JB Mortgage Capital, Inc. we do our best to answer the questions our clients have about refinancing their current mortgage. The reasons to do a refinance will differ from client to client however everyone has the same objective in terms of the outcome: to be in a better financial position then they were before. Some look to refinance to lower their mortgage rate, others want to move from a 30 year fixed term to a 15 year fixed term, others may want to remodel their home so they’re looking to do a cash out refinance. The current general refinance guidelines are posted on our website.

Economic Data:Low 20 year fixed rate

Today we have an updated Oil report, Mortgage Market Index, Refinance and Purchase and an important 10y auction. Mortgage Refinance Applications and Mortgage Purchase Applications both snapped back significantly last week which is not surprising. Tomorrow we have Wholesale Inventories, weekly Unemployment and Wholesale Sales. To finish off the week we have the very important Consumer Price Index (CPI) report which could be a market mover. The CPI report is expected to only show a moderate increase in inflation and it would be very surprising to see any significant surge in consumer prices. If the inflation report comes in significantly below expectations will that result in a big rally in Mortgage Backed Securities and in the Treasury market? That’s difficult to predict however I think the more likely scenario is a push down in yield below current levels and possibly establishing a “ceiling” at the levels we’ve seen this week.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs. The lowest refinance rates in California are typically for those with excellent credit however those with less than perfect credit are still able to get a low mortgage rate compared to what we were seeing just a few months ago.

Government Shutdown:

Last night the President gave a speech about “border security” and the current government shutdown. Other than that; not much going on as far as progress goes. Mortgage rates and the Mortgage Backed Securities market have not been negatively affected by the shutdown however it’s something we will continue to watch. In our mortgage news update yesterday we mentioned a recent Zillow study that said the collective mortgage payment for all federal workers affected by the government shutdown totals over $250,000,000.00.

Connect With Us On Social Media:

The best place to connect with us, outside of koloans.com, is on Social Media. Multiple times per day Loan Officer Kevin O’Connor updates our twitter feed, @Rates01, with the most up-to-date mortgage rate and news information. You can also find us on Pintrest, Instagram, Reddit, and ScoopIt.

JB Mortgage Capital, Inc.:Mortgage Home Information

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates January 8, 2019

At The Open:

Mortgage rates will start off the day at similar levels to slightly worse levels when compared to yesterday afternoon. Fixed rate mortgages, such as the 30 year and 15 year fixed rate, remain the most attractive terms available. Yesterday Mortgage Backed Securities (MBS) started the day in positive territory only to end the day slightly negative. Same thing for the 10y yield. Today we’re seeing a the market open to flat (both Mortgage Backed Securities and Treasuries); will we see a move higher later this afternoon? Just before 7am PST the selling in MBS picked up and the 10y yield moved higher to 2.71%. It appears we’ve probably hit a short-Low 30 year fixed mortgage ratemedium term lows and for the market/mortgage rates to move significantly lower we’ll probably have to see further deterioration in the economy (or some unforeseen event). It would not be surprising to see MBS/Treasuries move higher in the short term before leveling out.

Trade Talks With China:

Perceived progress in trade negotiations with China seem to be helping stocks however it’s not clear if  it’s pushing bond yields up. The assumption is that an agreed upon trade deal with China is good for stocks and bad for bonds however at this point we’re not definitively seeing the “bad for bonds” part. At some point they’ll reach a deal and depending on the structure of the deal it might put some pressure on bond yields and mortgage rates.

Connect with Loan Officer Kevin O’Connor on Twitter: @Rates01

Conforming Loan Limits In California:

If you own a home in California you’re aware of the high cost of living in the sunshine state. Homeowners and homebuyers received some much welcome news late last year that the conforming loan limits in California were being raised. Why is this good news? Conforming loans are generally easier to qualify for and can also come with lower interest rates compared to most jumbo loan programs. We offer a wide variety of conforming loan programs; both fixed rate and adjustable rate options.

Economic Data:Low 20 year fixed rate

Yesterday’s ISM Non-Manufacturing report came in weaker than expected however that wasn’t enough to keep the bond market rally going. Today we have the Consumer Credit report which is a good gauge on spending habits for the average consumer. On Wednesday we have an updated Oil report, Mortgage Market Index, Refinance and Purchase and an important 10y auction. The next day we have Wholesale Inventories, weekly Unemployment and Wholesale Sales. To finish off the week we have the very important Core CPI report which could be a market mover.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

Government Shutdown:

No major affects on mortgage rates or the bond market so far; that may change if the government remains closed for a long period of time. Following the President’s announcement that the shut down may last for “years”, various news reports claim the Senate Democrats have announced they are considering blocking all legislation that does not open the government. The President announced that Tuesday he’ll be giving a major speech which will be carried by all the networks. Speculation is he’ll announce that he’ll be invoking emergency powers to start building the wall along the southern border with Mexico. While the White House has said IRS refunds will be going out many are speculating that will not happen due to limited staffing levels at the federal agency.

JB Mortgage Capital, Inc.:JB Mortgage Capital, Inc.

If you are looking to refinance your current mortgage or if you are purchasing a home please be sure to give us a call so that we may provide a no-cost/no-obligation quote. We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the top rating with the Business Consumers Alliance (AAA). We utilize the latest technology to ensure a fast closing and Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538. From first time home buyer to seasoned real estate investor; JB Mortgage Capital, Inc. is ready to help with your next purchase. And if you’re considering a refinance; we have many loan programs that offer great rates and terms for those looking to take cash out for a remodel, shorten their term from a 30 to a 20 or 15 year fixed term and for those simply looking to lower their interest rate.

Mortgage Rates For January 7, 2019

Low 30 year fixed mortgage rateAt The Open:

Mortgage rates will start off the week a bit better than Friday as Mortgage Backed Securities (MBS) started the day in positive territory and the 10y yield was at the 2.63% level to start the morning. Recent headlines suggest that the US and China might be nearing an “agreement” have not had much affect on the market. This is good news for bonds and mortgage rates as there was some concern that mortgage rates would reverse course on a new trade agreement. That still may happen but for now the headlines are having no negative affect on mortgage rates.

“Should I Refinance?”:

With mortgage rates near one year lows many are asking is now the right time to refinance? For some the answer is yes however a lot depends on your current rate, the costs you paid at closing and your short to long term objectives with the home. In our article we discuss some of the guidelines a homeowners should follow when making a decision.

Avoid These Mistakes:Low 20 year fixed rate

Two mistakes you’ll want to avoid when making a decision to refinance your current mortgage is thinking it’s only worth refinancing if you have “huge” rate drop and the other is thinking that we need to see 30 year fixed rates and/or 15 year fixed rates back at all time lows before moving forward with a refinance. There are so many opportunities to save when refinancing even if you only see a moderate drop in your mortgage rate. Also a consideration is refinancing to a shorter term, say from a 30 year fixed to a 20 year fixed, to take years off your mortgage. Some people even see no to a little increase in their monthly payment. If you’re paying $1,800 per month for your mortgage and you take as little as 2 years off by refinancing you’ll save $43,200 (example is if you have 22 years left on a 30 year mortgage and refinance into a 20 year mortgage).

Economic Data:

Today we have the Factory Orders and  ISM Non-Manufacturing. On Tuesday we have Consumer Credit. On Wednesday we have an updated Oil report, Mortgage Market Index, Refinance and Purchase and an important 10y auction. The next day we have Wholesale Inventories and Wholesale Sales. To finish off the week we have the very important Core CPI report which could be a market mover.

15 year fixed mortgage 3.50%Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

Government Shutdown:

No end in sight when it comes to the government shutdown. Mick Mulvaney, Acting White House Chief Of Staff, said he believes the stalemate will go on a lot longer than initially anticipated. He believes the two sides are far apart with no resolution in sight. The President stated that he may invoke emergency powers to fund building the wall. He also went on to say the he’ll keep the government shutdown for months or years if needed.

JB Mortgage Capital, Inc.:Low Mortgage Rates At JBMC

If you are looking to refinance your current mortgage or if you are purchasing a home please be sure to give us a call so that we may provide a no-cost/no-obligation quote. We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We utilize the latest technology to ensure a fast closing and veteran Loan Officer Kevin O’Connor has over 14 years of experience as a Loan Officer. You can contact him directly at 1-800-550-5538.

Mortgage Rates For January 4, 2019

Employment Report:

Mortgage rates will start the day at similar levels seen on Thursday morning as we finish out the first week of 2019. The big economic report for the day is the BLS Employment report. The 7:30am (EST) report blew out expectations with  301,000 jobs created, stronger earnings and higher revisions. Prior to the report the 10y yield was at 2.64%’ 5 minutes after it had already moved down to 2.61%. Mortgage Home InformationGoing into the employment report there usually is a bit of uneasiness in terms of what it will mean for the market however usually (certainly not always) the reaction in the market to the report is somewhat muted. Todays reaction is not muted and somewhat surprising in that after seeing such a sharp move down in bond yields you would expect a bigger pop in yield after a block buster employment report. It’s still early so things may change in the next hour or two.

At The Open:

Prior to the Employment report Mortgage Backed Securities (MBS) were negative at the open and the 10y yield was at the 2.64% level to start the morning. Yesterday, after the ISM report came in, there was a significant rally in bonds in which the 10y yield pushed all the way down to 2.54% so seeing a move higher this morning is not surprising. Next week we have the CPI report (more on that below) which along with the ISM and Employment report, another important indicator as to the health of the economy.

Yesterday’s ISM Report – not good:

The Mortgage Backed Securities market reacted significantly to yesterday’s ISM report which was bad; as in the worse report in 10 years bad. However that’s good news for bonds because it’s just another confirmation the economy is slowing and when that happens mortgage rates typically improve. Along with the Employment report (today) and the CPI report (next week); the ISM report is very important gauge when it comes to determining how the economy is doing. TheLow 20 year fixed rate reading came in well below estimates and as mentioned it’s the worse ISM decline since 2008. That being said; one report does not determine the exact health of the US Economy however many investors believe we are headed towards a significant slow down which means inflation expectations have to be adjusted (slow economy = low inflation = better mortgage rates).

Economic Data:

Today we have the the BLS Employment report, unemployment rate and Average Earnings for the month of December. Next week we have Factory Orders and  ISM Non-Manufacturing on Monday. On Tuesday we have Consumer Credit. On Wednesday we have Oil, Mortgage Market Index and a 10y auction. On Thursday we have Wholesale Inventories and Wholesale Sales. To finish off the week we have the very important Core CPI report which could be a market mover.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote Personal Servicespecific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

Government Shutdown:

The House has passed a funding bill however the President has said he will not sign it so it’s probably not going anywhere in terms of resolving this issue. The President has requested but House and Senate members to continue discussions on how to re-open the government. Previously we discussed how the shutdown may affect mortgage loan processing and mortgage rates. Below is the article.

Previous article on koloans: A concern is growing among homeowners, homebuyers and realtors – will this current government shutdown prevent borrowers from closing their mortgage on time? The quick answer is not yet. If you are closing in the next week or two you should be fine because your mortgage company has probably already received the 4506-T report back from the IRS. However, if this goes on for weeks or even months there may be an impact to not only closing on time but also mortgage rates. However, for now homeowners and homebuyers should be able to close their loans as planned. The first thing you should do is check with your Loan Officer as to what their procedure is if the shutdown continues.

Mortgage Rates For January 3, 2019

Day Three Of 2019:

Mortgage will start the day at similar levels seen on Wednesday as we head into day three of 2019. Mortgage Backed Securities and the 10y yield are are flat to slightly negative to start the day. The big news of the day is not related to mortgages nor the bond market but Apple. Apple announced it was lowering their guidance going Mortgage Home Informationforward. Stocks are selling off sharply this morning however bonds remain flat to slightly negative. Oil is up this morning nearing $48 a barrel. It appears the trade war with China is having a negative affect on companies doing business in China. Apple cited a sharp downturn in China and emerging markets as the cause for the lowering of guidance.

At The Open:

Mortgage Backed Securities were a tad bit negative at the open and the 10y yield was just above 2.64% to start the morning. As I mentioned yesterday; it’s been a rally led by Treasuries. Mortgage Backed Securities have a long way to go to catch up. As the spread between the two widens it makes Mortgage Backed Securities

Will The Apple Selloff Affect Bonds?:

Possibly, if it gains steam throughout the day. However we need to keep in mind that not too long ago the 10y yield was at 3.25% and now it’s below 2.65% – a very significant move down. So if bonds don’t rally on the news or on a significant selloff that wouldn’t be too surprising. We also have the ADP employment report which might have a bigger affect than the Apple news.

Mortgage Applications:Mortgage Loan Application

Despite lower rates mortgage applications in the most recent survey declined nearly 10%. That is fairly significant and is way below the same time period last year. Mortgage volume is near a 20 year low as we start off 2019. I would expect that to pick up significantly next week once people get settled in after the holiday season.

Economic Data:

Today we have the ADP National Employment Report for December, ISM New York Index for December, ISM Manufacturing PMI, ISM Manufacturing Prices Paid for December (an important piece when it comes to inflation) and Vehicle Sales. To end the week we have the BLS Employment report, unemployment rate and Average Earnings for the month of December.

Next week we have Factory Orders and  ISM Non-Manufacturing on Monday. On Tuesday we have Consumer Credit. There are no major economic reports scheduled for Wednesday and on Thursday we have Wholesale Inventories and Wholesale Sales. To finish off the week we have the very important Core CPI report which could be a market mover.

Government Shutdown:Low 20 year fixed rate

Another day and we’re still no further along in seeing a resolution. Some homeowners, homebuyers and realtors are getting worried that the shutdown will affect loan applications from closing on time. Yesterday we discussed in detail the possible affect the government shutdown will have mortgage applications and it’s possible affect on mortgage rates. Borrower’s looking to close this week or next should be fine however beyond 1-2 weeks there are some concerns.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.275%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. To get the most up-to-date quote specific to your loan scenario be sure to contact Loan Officer Kevin O’Connor at 1-800-550-5538 or you can submit a “Contact Us” request on the our website. 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

Low 30 year fixed mortgage rateCalifornia Page:

JB Mortgage Capital, Inc. is a mortgage company that serves all of California; from San Diego California to northern the county of Del Norte. We offer industry low mortgage rates along with one-on-one personal service from application to closing. We are one of the very few mortgage companies in the State of California to obtain an “Accredited” status with an “A+” rating at the Better Business Bureau; along with our “AAA” rating with the BCA, and a five star rating with Zillow and Mortgage101. We are licensed with the California Department of Real Estate and the National Multistate License System (NMLS). Living in California you’re presented with a lot of opportunities to compare mortgage companies and we hope you consider us when you’re looking for your next mortgage quote.