Mortgage Rates December 21, 2018

Heading into the weekend mortgage rates for December 21, 2018 will be near their best levels since Spring. Most notably; 30 year fixed rates are really attractive right now and somewhat surprisingly you are seeing some lenders be really aggressive with their pricing strategy at time when they’re usually not.

More often than not lenders take a more conservative approach around the holidays; especially heading into the weekend before Christmas.

Going forward it’s important to be cautiously optimistic with improvements. This rally may continue however generally what happens after a significant move down is that we see bond yields and mortgage rates snap back to higher levels.

We’ll see what happens over the next few days and if we’re lucky over the coming few weeks. It certainly helps that stocks and oil are declining in a significant way as money starts to move back into the bond market.

Family just bought home

Durable Goods and PCE Reports:

The 10y yield opened the day at the 2.79% level and Mortgage Backed Securities are set to open the day at similar levels from Thursday.

Today we have the Durable Goods and Core PCE reports and yesterday the Philly Fed Index came in below expectations. Next week is the Christmas holiday. Most lenders and the bond market will close early on Monday and close on Tuesday.

Things will start back up again on Wednesday when we have the CaseSchiller reports, then on Thursday we have the New Home Sales reports and to finish the week we have the Chicago PMI report.

Don’t forget to connect with Loan Officer Kevin O’Connor on Twitter @Rates01

Currently We Are Seeing:

30 year fixed mortgage rates below 4.375%, 20 year fixed mortgage rates below 4.25% 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 fixed rate mortgage loan programs and adjustable rate mortgage loan programs.

Local Realtor Spotlight – Silicon Valley:

If you are looking to purchase a home and/or sell your current home in the San Jose area here are a few local realtors you might want to look into. Having a great Realtor on your side can really help with the home buying process and they work directly with your mortgage lender top ensure a smooth process.

Jose Rodriquez – Compas Real Estate:

Joe Rodriguez – Compass Real Estate, 5353 Almaden Expressway, Suite A150, San Jose, CA 95118 and their direct number is (408) 754-1646. Joe Rodriguez covers all of Silicon Valley with a special emphasis on the Santa Clara and San Jose markets. On he has ten reviews all are five star reviews. With 24 years of experience he has the knowledge and expertise clients are looking for.

Alliance Bay Realty:

Located at 37600 Central Court, #270, Newark, CA 94560. Alliance Bay Realty is a full service realty company with deep reports in the Newark and greater Silicon Valley area. Their direct phone number is (510) 742-6600. Established in 1997 this realty company has many local agents that are experienced and knowledgeable about the area.

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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 15 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 a top rating with 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

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