April 22, 2019 mortgage rates are starting off the day at similar levels seen last week. It’s a positive to see today’s mortgage rates start off at these levels considering the volatility we’ve seen in recent weeks. Both Conforming and FHA fixed rates remain the most attractive terms right now:
- 30 year fixed mortgage rate – Conforming and FHA
- 15 year fixed mortgage rate – Conforming
With a few weeks left in the month of April it will be interesting to see how mortgage rates finish off the month. It would be a long-term positive for mortgage rates if we can see some stability enter the market (more on this below).
California Mortgage Rates (Conventional)
California FHA Mortgage Rates
California Jumbo Mortgage Rates
Mortgage Backed Securities and Treasury Snapshot:
Mortgage Backed Security FNMA 4.0 opened at 102.42, and FNMA 3.5 opened at 100.66. The 10y Treasury yield started the day at the 2.57% level.
This week will be important for the Mortgage Backed Securities (MBS) market. We’ll be looking to see if the 2.625% level with the 10y Treasury yield will be confirmed as the top end of that range which would end up being a positive for MBS and mortgage rates.
Back in late January a range was first established with the 10y Treasury and MBS/mortgage rates followed. The range lasted all through February and most of March.
It would not be surprising to see a similar range set up as we move further into April.
It would be a long-term benefit for mortgage rates if stability and a somewhat predictable range were established after several weeks of volatility.
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Economic Data This Week:
Today we have Existing Home Sales and on Tuesday we have New Home Sales. On Wednesday we have the weekly Mortgage Market Index report and Thursday is the Durable Goods Report for March. On Friday is the Advanced Q1 GDP and Consumer Inflation Expectations.
Existing Home Sales:
The Existing Home Sales is scheduled to be released at 10am EST. I’ll update the post if the report has a significant impact on the Mortgage Backed Securities market and mortgage rates. Expectations fare for a reading of 5.30, last month the reading came in at 5.51.
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.