Mortgage Rates December 5, 2018

Mortgage rates for December 5th, 2018 are generally unchanged. Markets are closed for the National Day of Morning for George H.W. Bush. Yesterday we only had one economic report  (ISM-New York Index for Nov) which came in stronger than expected. The big news from yesterday was the significant drop in stocks and the government bond rally which pushed the 10y yield below 2.90% (it closed at the 2.91% level).

Unfortunately the rally in government debt did not spill over into the Mortgage Backed Securities market (MBS). While MBS improved it definitely was not on the scale of what was going on in the US treasury market. Overall though we’re still seeing low mortgage rates heading into tomorrow’s slew of economic data reports. 

modern home

Economic Reports:

On Thursday we have the MBA Purchase Index, Refinance Index, Mortgage Index, the ADP Employment report, ISM Non-Manufacturing PMI for November, Challenger Layoffs and Factory Orders – wow, huge day! Friday is the big day with the BLS Employment report which will include the number of jobs created along with earned wage data.

Crystal Ball:

There are many questions as to what lies ahead for mortgage rates. No one has a crystal ball and so saying definitely what will happen next is impossible to predict.

What we can do is look back at previous times we’ve seen significant bond rallies that led to lower mortgage rates to help guide us with future decisions. While no two rallies are the same and this one may continue I think the prudent choice is to remain cautiously optimistic.

What does that mean for someone looking to obtain a new mortgage to purchase a home or refinance a mortgage on a home they already own; it means lock in terms and don’t risk market fluctuations. There is a long history of snap backs and that might happen here so take advantage of these lower rates if you can.

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. 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.

Check Our Our Previous Article On

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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