January 2019 News And Events

Below is a recap of the daily mortgage rates for each day in the month of January 2019. Mortgage rates improved early in the month and then moved up as fears of a recession in 2019 subsided. During the last week of the month mortgage rates moved back down to previous lows and stayed there as we moved into February.

Important Events That Impacted Mortgage Rates In January

  • The government shutdown
  • Trade tensions with China
  • Some economic reports came in below expectations
  • The housing industry showed signs of weakness

January 2019 Mortgage Rate Average

  • The average 30 year fixed mortgage rate for January 2019 has been below 4.375%
  • The average 20 year fixed mortgage rate for January 2019 has been below 4.125%
  • The average 15 year fixed mortgage rate for January 2019 has been below 3.75%

*the mortgage rate averages are averages seen with JB Mortgage Capital, Inc.; these are not national averages.

January 2019 Was A Great Month For Mortgage Rates

Overall January 2019 was a great month for mortgage rates. They continued to follow the trend down that was started back in November 2018. Moving forward it will be interesting to see how the economy responds to lower mortgage rates and if the economy does indeed slow down as analysts are expecting. Also the trade tensions with China and another possible government shutdown; if those are resolved how will mortgage rates respond? If they get worse how will mortgage rates respond? Be sure to follow all the updates on our Current Mortgage Rates page.

Why You Should Work With JB Mortgage Capital, Inc.

Customer Focused

JB Mortgage Capital, Inc. is 100% focused on the customer experience. From loan application to closing you’ll work directly with one person the entire time. This ensures for a better experience for the customer and a more efficient loan process.

Low Mortgage Rates

Making sure we provide industry low mortgage rates is a focal point at JB Mortgage Capital, Inc. We understand the importance of saving money. From fixed rate mortgages to adjustable rate mortgages we offer low rates at great terms.

February 2019 Mortgage Rate Forecast

Heading into February 2019 mortgage rates were under pressure after a much stronger than expected Employment Report and ISM Manufacturing PMI report. Investors became concerned, post reports, that the economy was not as weak as expected and that fears of a recession in 2019 were a bit overblown. Mortgage Backed Securities and Treasuries both sold off on the first day of February and mortgage rates reversed the gains obtained earlier in the week. Here is a break down of the data from the Employment and ISM reports:

Employment Report Data

  • 304,000 jobs created
  • Unemployment rate 4.00%
  • Wages increased 0.2

ISM Report Data:

  • 6 vs an expected 54.2
  • Prices paid came in below expectations: 49.6

Mortgage Rates May Go Higher

Several factors may push mortgage rates higher in February and the two biggest ones are a possible end to the stalemate in Washington over funding the government and the second is resolution to the trade negotiations with China. The added issue with resolving the government funding issue is that it might contain new spending which might stimulate the economy; this could be a potential negative for mortgage rates if the stimulus is large enough.

The Chance For Mortgage Rates To Move Lower

If the economic data softens mortgage rates may improve in February. If the trade negotiations worsen that also may help push mortgage rates lower. As for the government shutdown; we think the market views this as a temporary event and any negative impact to the economy will be made up once resolved. Because of this it’s unlikely the government shutdown if it continues in February, will have any positive impact on mortgage rates.

Freddie Mac Mortgage Survey

Here is the Primary Mortgage Market Survey from Freddie Mac. The blue line is the 30 year fixed mortgage rate, the green line is the 15 year fixed mortgage rate and the orange line is the 5/1 adjustable mortgage rate. The below graph helps to see the increase in mortgage rates during 2018 and how they’ve moved down from November to January.

Mortgage rates January 2019

Mortgage Rates From January 2018 – January 2019

Mortgage rates from early 2018 were on a clear upswing that lasted until early November.  The 30 year fixed rate moved from below 4.25% to nearly 5.00% and the 15 year fixed rate moved from below 3.75% to nearly 4.25%. Keep in mind these are averages and this does not factor in the cost paid to obtain the interest rate. For a few weeks in October 2018 there were a few lenders with 5.00% + 30 year fixed mortgage rates.

Mortgage Tips That Can Save You Money

Below we cover different aspects of refinancing your home, first-time home buyer suggestions, and purchase tips for those that have previously purchased property. Saving our clients money is a big part of what we do at JB Mortgage Capital, Inc. and that includes providing low mortgage rates and sharing information that can help them with their next mortgage transaction.

California Refinance

At Jb Mortgage Capital, Inc. we offer industry low mortgage rates to those looking to refinance their current mortgage. We offer both fixed-rate mortgages and adjustable-rate mortgages. We offer great terms for excellent credit and those with less than perfect credit. Here are a few things to consider when you do your next California refinance:

  • You might not need an appraisal; over the last 12 months we’ve seen more waivers issued
  • The process can take as little as three weeks; especially if you’re prepared
  • Discuss with the Loan Officer your goals for the refinance and consider suggestions he/she may have

First Time Home Buyers

Are you looking to purchase a home for the first time? At JB Mortgage Capital, Inc. we have a wide variety of loan programs that include those with less than perfect credit and/or a small down payment. We’ll take the time to see how we can best meet your mortgage needs. If you’re a first time home buyer here are a few things to consider before moving forward:

  • Work with an experienced first time home buyer Realtor
  • Be realistic and don’t “bite off more than you can chew” when it comes to the purchase price
  • Don’t take a chance on a mortgage company and/or Loan Officer that has a bad rating with the Better Business Bureau

Home Purchase:

Thinking of upgrading your home? Or are the kids out of the house and you’re looking to downsize into a smaller home? At JB Mortgage Capital, Inc. we encourage our clients to be selective and take their time when it comes to buying a home. Making a home purchase is one of the largest financial transactions most people will make and it’s important to make sure you do things right.

  • If it’s a seller’s market don’t get caught up in the euphoria and overpay for home; especially if it’s been a seller’s market for a long time.
  • If It’s a buyer’s market; avoid being too aggressive with negotiating a price. You might just miss out on the home of your dreams.
  • When obtaining a mortgage; factor in your lifestyle to help make a decision on what type of mortgage you should obtain.

Below Are The Mortgage Averages For January 2019

These are not national averages but specific to JB Mortgage Capital, Inc. The mortgage rate averages for January 2019 are general observations we’ve made and provide a useful insight as to what direction the market was going in for the month of January.

30 Year Fixed Rate Mortgage:

30 year fixed rate mortgage 4.25%

Mortgage Rates

The two most popular mortgage rates in January 2019 were the 30 year fixed mortgage rate and the 15 year fixed mortgage rate. The two terms are based on conforming loan amounts; excellent credit and a low Loan-To-Value ratio.

15 Year Fixed Rate Mortgage:

15 year fixed mortgage rateJB Mortgage Capital, Inc.

If you are looking to purchase a new home or refinance a current mortgage please be sure to contact us for a no-cost no-obligation quote. We have an A+ rating with the Better Business Bureau, AAA rating with the Business Consumers Alliance, a Five Star rating with Zillow, and a Five Star rating with Mortgage101.com. We’ll take the time to learn how was can best help and then provide real-world solutions. We never charge any junk fees and we welcome our clients to ask questions to ensure they have a good understanding of what is available.

Request A Low Rate Mortgage Quote

At JB Mortgage Capital, Inc. we offer industry low mortgage rates, personal one-on-one attention from loan application to closing and we’ve embraces the latest technology to ensure your mortgage closes fast and on time. We offer great loan programs for first-time home buyers all the way to seasoned investors.

We hope you’ve enjoyed reading about January 2019 mortgage rates and what impacted mortgage rates during the month and how they may be impacted moving forward. If you have any suggestions or requests please let us know. Be sure to check out our other pages including:

  • California Refinance: Here we discuss all the benefits of doing a refinance for those that live in California. We also cover money-saving mortgage tips and we talk about when not to do a refinance.
  • First Time Home Buyers: We’ve worked with a lot of First Time Home Buyers over the years and a big part of helping First Time Home Buyers is answering questions they have about the mortgage process. We do this and more on our FTHB page.
  • Current Mortgage Rates: We update our clients daily about current mortgage rates and what’s happening in the overall market. We discuss current economic data and things that may affect mortgage rates.
  • Homeowner News: In our homeowner’s news section we try to cover just about everything that’s important to a homeowner.
Loan Officer Kevin O'Connor

About The Author

Loan Officer Kevin O'Connor has over 17 years of experience as a Mortgage Loan Originator and is a trusted resource for mortgage education and information. He's the content creator of K.O. Home Loan Solutions and is licensed by the state of California and the Nationwide Mortgage Licensing System. He has a top rating with the Better Business Bureau, Google, Yelp, and Zillow. You can contact him at 1-800-550-5538. CA DRE #01499872 / NMLS #247447