Mortgage Rates February 4, 2019

Mortgage rates and Mortgage Backed Securities are starting the day under pressure as the 10y yield opens the day at the 2.70%. Unless things turn around during the day; mortgage rates for February 4, 2019 will be slightly worse than last week. Post Fed meeting bonds are mortgage rates improved however that all changed on Friday with the stronger than expected Employment report and ISM report.

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This Week In Mortgage Rates:

After briefly being in rally mode post Fed meeting; it’s clear that has all changed as we start the first full week of February. Economic data this week is on the lighter side which means Mortgage Backed Securities and mortgage rates might be more susceptible to news reports. Two big things to keep aware of:

While the 10y yield does not set mortgage rates; it does has some influence over the direction of Mortgage Backed Securities. If the 10y yield can stay below 2.72% this week; especially if non-bond friendly news comes out, that will be big win for mortgage rates. Even if it does break 2.72% it’s not the end of the rally for Mortgage Backed Securities and mortgage rates. The super important ceiling for the 10y yield is 2.80% – 2.82%. If the 10y yield makes a meaningful move above 2.82% that would be problematic for Mortgage Backed Securities and mortgage rates.

FHA Mortgage Rates

Economic Data:

This week have the ISM-New York Index for January and Factory Ex-Transport on Monday. On Tuesday we have International Trade Data, ISM Non-Manufacturing and a 3y Note Auction. On Wednesday we have the weekly mortgage data (Refinance and Purchase applications) along with preliminary Productivity and Labor Costs for Q4. There is a 30y Bond Auction on Thursday along with Consumer Credit for December. There are no major economic reports on Friday. Still waiting on the details about when the previously delayed Retail Sales and Durable Goods report will be released.

Why This Matters To Mortgage Rates:

Specifically speaking about the ISM-New York Index – this survey gives a good look at what’s happening in the New York area in terms of the overall health of business activity. The survey focuses on three areas:

  • All industries
  • Manufacturing firms
  • Non-manufacturing establishments.

This matters to mortgage rates because the New York is a very important area of the US economy. Signs of strength or signs of weakness can influence the Mortgage Backed Securities market and if so will influence consumer mortgage rates.

Updated Pages on

We’re constantly working toward bringing our readers the most up-to-date information about mortgage rates; money-saving mortgage tips and important news for homeowners. Over the weekend we updated the following pages:

California Refinance:

We updated and added to our California Refinance page with the following information:

  • Simple money-saving mortgage tips
  • Resources to help save you money on your next refinance
  • When to consider a refinance
  • When not to do a refinance
  • Mortgage rates and guidelines
  • Less than perfect refinance options

February 2019 Mortgage Rates:

We added a monthly mortgage rates page. Our February 2019 mortgage rates page offers the following:

  • 30 year, 20 year and 15 year fixed rate mortgage averages at JBMC, Inc.
  • Important events that might influence mortgage rates in February
  • A mortgage rate calendar with a link to each day of the month in which a post was written about mortgage rates
  • Important things to remember when getting a new mortgage

January 2019 Mortgage Rates:

We also added a January 2019 mortgage rates page; here is what the page offers our readers:

  • 30 year, 20 year and 15 year fixed rate mortgage averages for the month of January at JBMC, Inc.
  • Important events that influenced mortgage rates in January
  • A review of how mortgage rates performed during the month
  • A mortgage rate calendar with a link to each day of the month in which a post was written about mortgage rates
  • The two most popular mortgage loan programs during the month

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%. 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 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.

JB Mortgage Capital, Inc.:

We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau (BBB). We also have the 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 Loan Officer. You can contact him directly at 1-800-550-5538.

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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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