Mortgage Rates December 11, 2018

Mortgage rates for December 11th, 2018 – The 10y yield opened today at the 2.88% level and Mortgage Backed Securities (MBS) opened in negative territory. Mortgage rates will be similar to levels seen yesterday as we’re starting to see some stability enter the market (which is good for mortgage rates).

Generally speaking; mortgage lenders prefer a stable market and tend to be a bit more aggressive with their mortgage rates when stability is present. Earlier this morning we had the Core Producers Prices Index which came in stronger than expected and there was no noticeable market reaction so mortgage rates for December 11, 2018 should remain stable.

Stocks are set to open the day higher after yesterday’s volatile session. Oil remains below $55 which is good for bonds and mortgage rates. Lower oil generally helps keep a lid on inflation which is the biggest threat to mortgage rates.

Moving Below 2.82% Might Be Difficult:

It starting to look like the 10y is going to have a hard time moving below the 2.82% – 2.80% level which is not surprising. During the summer it tried to move below that many times and each time it snapped back above that. Eventually it moved higher; all the way above the 3.20% level.

This time might be different as the recent data suggests a slow down in the US economy. However we need to be patient and we’ll probably need see further weakness in the economy before we’ll see a meaningful move below 2.80%. Provided the bond market remains stable/steady we could still see further improvements to mortgage rates.

On Wednesday we have the MBA Mortgage Index (Refinance and Purchase as well), Core CPI and a 10y Note auction.  On Thursday we have Export and Import Prices and on Friday we have Retail Sales and a 30y Bond auction.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.50%, 20 year fixed mortgage rates below 4.375% and 15 year fixed rates below 3.75%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile.

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 loan programs for both fixed rate mortgages and adjustable rate mortgages. These continue to be the lowest fixed mortgage rates we’ve seen since late summer.

JB Mortgage Capital, Inc.:

Call us today for a no cost – no obligation quote at 1-800-550-5538. We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau. And when you work with us you’ll work with the same person from application to closing. One person; not 3, 4 or even 5 like most mortgage companies.

Information On Conforming Loan Limits:

“On November 27th, 2018 FHFA announced they were raising the conforming loan limits which is good news for homeowners and homebuyers in California.  This allows some mortgage loans that were previously labeled “jumbo” to now be placed in the conforming loan limit category. Here are the 2019 Conforming Loan Limits for the 58 counties in California. “One-Unit” refers to a property with one structure (ie a Single Family Residence – SFR), “Two-Unit” is a Duplex etc. Home values have increased over the last few years and raising the loan limits allows more people to qualify for the best available mortgage rates.”

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About Loan Officer Kevin O'Connor

About Loan Officer Kevin O'Connor

He is the founder and main contributor of He has over 16 years of experience as a Mortgage Loan Originator (MLO) and is a fully licensed with the state of California and the Nationwide Mortgage Licensing System (NMLS). He has a top rating with the Better Business Bureau and Zillow. He continually delivers the results homeowners are looking for; low rates, fast closings and exceptional service: "Helping Homeowners Achieve Their Dreams"  CA DRE #01499872 and NMLS # 247447