Mortgage Rates For January 21, 2019

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Mortgage Rates At The Open:

Today is Martin Luther King Day and the markets are closed however some lenders are open for business. Mortgage rates are the same as Friday as we start the last two weeks of January.

15 year fixed mortgage rateMortgage Rates Moved Higher Last Week:

Last week mortgage rates increased on news that there might be a resolution to the government shutdown and positive steps in the US – China trade negotiations. However it appears that the negotiations between the White House/Republicans and Democrats is no further along than it was the previous week. As for the US – China trade negotiations; well that appears at a standstill and possible getting worse with comments from Senator Chuck Grassley saying there is no progress with the trade talks. And potentially furthering the distance between the two countries are rumors of a ban on Huawei products and criminal charges being filed against executives within the company.

Will Mortgage Rates Move Lower This Week?:

Excellent question and one would think they should at least move down to previous levels considering that the news stories that sparked their movement were not true. That being said; we have to remember that the bond market rally that started late yesterday was a huge move down and we’re still at significantly better levels compared to October/November. Even though we move up on news that turned out to not be true it would not be surprising to see mortgage rates/bond markets ignore that and stay at somewhat elevated levels until we receive more confirmation that the economy is slowing.

Mortgage Rates - Conforming Loans

 

Mortgage Rates - FHA Loans

 

Economic Data:20 year fixed mortgage rate

The markets are closed today (Martin Luther King Day) and there are no economic reports due to the holiday. Tuesday we have Existing Home Sales for December. On Wednesday we have the MBA Purchase Index, the MBA Refinance Index, Monthly Home Prices Index and the MBA  30 year mortgage rate index. There are no significant economic reports on Thursday and on Friday we have the Durable Goods report.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% 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. 30 year fixed rate mortgage 4.25%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. JB Mortgage Capital’s YouTube channel is in the works!