Mortgage Rates For December 26, 2018

Mortgage rates for December 26, 2018 are set to start the day on a positive note and near their lows for 2018. The Mortgage Backed Securities market opened in positive territory and the 10y yield is trading below 2.75%. Today we have the CaseShiller report, a 2y auction and a 5y auction.

Thursday we have unemployment claims, Monthly Home Prices report, New Home sales, Consumer Confidence level report, and a 7y auction. To finish off the week we have the Chicago PMI report, Pending Home Sales and Crude Oil Inventories. Several looming issues for bonds this week; government shutdown, trade war with China, and the current bear market in stocks all have the potential to influence bonds and mortgage rates this week.

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Government Shutdown And Trade War:

It appears the government shutdown will last into January as both sides of the aisle stand firm on what they will and will not do. As for the China trade war; who knows what’s really going on and when that will be resolved.

For the 10y treasury yield; breaking 2.70% – 2.72% would be another significant move down in yield if it were to happen. Trading desks this week are a bit short staffed so the market is vulnerable to significant swings if there is a market moving event. If that were to happen we probably would have to wait until next week, when most traders are back at work, to receive confirmation of the move.

Next Week:

Next week the market closes early on Monday; and remains closed on Tuesday. Mortgage companies and markets re-open on Wednesday. There are no important economic reports on Wednesday however on Thursday we have the ADP National Employment Report for December, ISM New York Index for December, ISM Manufacturing PMI, ISM Manufacturing Prices Paid for December (an important piece when it comes to inflation) and Vehicle Sales. To end the week we have the BLS Employment report, unemployment rate and Average Earnings for the month of December.

It will be interesting to see how the markets act between now and Jan 2nd. Many traders are off and on vacation so usually the markets are stable and calm. That might not happen this week as any significant moves might jolt the market due to the lack of trading volume.  We shall see!

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 3.625%. 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.

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“JB Mortgage Capital, Inc. is a mortgage company that serves all of California; from San Diego California to northern the county of Del Norte. We offer industry low mortgage rates along with one-on-one personal service from application to closing. We are one of the very few mortgage companies in the state of California to obtain an “Accredited” status with an “A+” rating at the Better Business Bureau; along with our “AAA” rating with the BCA, and a five star rating with Zillow and Mortgage101. We are licensed with the California Department of Real Estate and the National Multistate License System (NMLS).” 

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Loan Officer Kevin O'Connor

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 fully licensed with the state of California and the Nationwide Mortgage Licensing System (NMLS). He has a top rating with the Better Business Bureau, Google, and Zillow. He continually delivers the results homeowners are looking for; low rates, fast closings, and exceptional service. CA DRE #01499872 and NMLS # 247447

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