Current Mortgage Rates

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:

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 experience 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 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 stability 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:

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 all 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 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.

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 things 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:

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.

Conventional 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.

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 measures 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 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.

Conforming 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:

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.

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.

At 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:

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 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 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.

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.:

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.

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 after 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:

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.:

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.