Mortgage Rates For January 2, 2019

Happy New Year! 2019 is starting off on a positive note as mortgage rates for January 2nd, 2019 will start the day at better levels as the Treasury market continues to rally. As we’ve discussed before; mortgage rates are not set in the Treasury market but in the Mortgage Backed Securities Market (MBS). That being said; the Treasury market has been leading the way for Mortgage Backed Securities and this rally that started in November has not lost any steam.

Who remembers 3.25% on the 10y? Hard to imagine that was less than two months ago. At the time the prevailing belief was that the next level in the 10y yield was going to be 3.50% – 3.75% as fears of inflation were spreading among investors. Since then stocks of tanked, oil has tanked, bond yields have fallen, MBS has rallied and mortgage rates are lower.

Red Home

Mortgage Rates At The Open:

At the open the 10y yield was at 2.64% and Mortgage Backed Securities are also positive. The Treasury market was performing better than MBS and that has been the norm during this rally. Stocks are selling off as is Oil.

Economic Data:

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. As they say; this will be the most important Employment report ever….until the next employment report.


FHA Mortgage Rates

Government Shutdown:

It’s 2019 and the government remains closed with no end in sight. Mortgage Backed Securities continue to be unfazed but the entire fiasco in Washington.

New Website:

Our new layout is live and we’re very excited to start the new year with a new layout design. There are still many things to do so keep that in mind when looking around. We anticipate it being 100% ready to go by next week.

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.

Check out our Diversified Loan Programs Page:

Finding the right mortgage loan program for your next purchase or refinance is one of the most important aspects to mortgage financing. In California there are so many options available to borrowers these days that it’s essential you work with a mortgage company that can offer a wide variety of loan products; from Fannie Mae conforming loan programs to portfolio jumbo options at industry best terms.

When you work with JB Mortgage Capital Inc. you’ll find our experience and service are second to none and we work hard to find clients the best mortgage rates possible. We never charge any junk fees and there are never any surprises at closing.

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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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