Mortgage Rates April 16, 2019

Today’s Mortgage Rates:

Mortgage rates for April 16, 2019 are starting of the day at slightly higher levels than yesterday as the bond market yields continue to move higher.

Depending on the term, mortgage rates are between 0.125% – 0.25% higher than levels seen a few weeks ago however they are lower than the levels seen earlier in 2019 and especially lower compared to levels seen 6-9 months ago. As mentioned yesterday we may see mortgage rates continue to move higher this week due to trade talks with China, the three-day weekend and if stocks continue to push higher.

Mortgage Rates - Conforming Loans

Mortgage Rates - FHA Loans


Mortgage Rates - Jumbo Loans

Townhome

Mortgage Backed Securities and Treasury Snapshot:

Mortgage Backed Security FNMA 4.0 opened the day at 102.39, and FNMA 3.5 opened the day at 100.67. The 10y Treasury yield started the day at the 2.57% level.

After the open the 10y yield moved higher as stocks opened on a strong positive note.

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FHA Mortgage:

Are you a first time home buyer that has less than perfect credit and/or a small down payment? Do you currently own a home and would like to refinance your mortgage but have some credit issues? If so you may want to consider a low rate FHA mortgage.

Benefits of a FHA Home Loan:

  • Low down payment requirement (purchase)
  • Low equity requirement (refinance)
  • Less than perfect credit is ok; you only need a 580 credit score (or higher)
  • Flexible debt-to-income ratios
  • The FHA Streamline Refinance program is one of the best in the industry

We offer a wide variety of FHA mortgage options along with our every day low California mortgage rates. And if you currently have a FHA home loan you’ll definitely want to check out the FHA Streamline refinance loan program. As mentioned above; it’s one of the best refinance programs in the industry and is available at JB Mortgage Capital, Inc.

FHA Streamline Refinance:

How would you like to complete your refinance in a matter of weeks with no appraisal and no income documentation? If you have a current FHA home loan and want to obtain a new low rate FHA home loan then the Streamline Refinance option is something you should strongly consider.

If you want cash out then the Streamline refinance is not for you and if you don’t have a FHA home loan currently then you are not eligible for a FHA streamline refinance.

Economic Data This Week:

Today we have the NAHB Housing Market Index and Industrial Production for March. On Wednesday we have the weekly Mortgage Market Index, Refinance Index and Purchase Index. We also have Wholesale Sales and Wholesale Inventories. On Thursday we have the Philly Fed Business Index for April and Retail Sales for March. On Friday we have the Building Permits and Housing Start reports.

Retail Sales and Mortgage Rates:

We’ll be keeping a close eye on the Retail Sales report. This report has the potential to move mortgage rates higher or lower if the report comes in higher or lower than expectations.

Expectations are for a 0.9% increase; a reading that is stronger than that could push mortgage rates higher before the weekend.

JB Mortgage Capital, Inc.:

We offer industry low mortgage rates for both refinance and purchase transactions, personal one-on-one service and we have an A+ rating with the Better Business Bureau (BBB). We also have a 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 mortgage professional.

When it comes to mortgage rates 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 obtain 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.

Loan Officer Kevin OConnor

Loan Officer Kevin O’Connor:

Kevin grew up in California and works with clients throughout the state. From the initial quote to the application to the final closing; Kevin works directly with each and every homeowner and encourages his clients to ask questions so that they’re better informed. He updates koloans.com on daily basis and you can connect with him on social media: Twitter Rates01