Today’s Mortgage Rates:
Mortgage rates are finishing the week at great levels despite stronger than expected data (Retail Sales and Philly Fed Index). Yesterday afternoon Fed President Williams had some very bond friendly comments that helped push bond yields lower. Looking forward to next week; if the market can build from this momentum we should see some improved mortgage rates next week.
Mortgage Rates - Conforming Loans
Mortgage Rates - FHA Loans
Mortgage Rates - Jumbo Loans
Mortgage Backed Securities and Treasury Snapshot:
Mortgage Backed Security FNMA 3.5 started the day at 102.28 and the FNMA 4.0 coupon started the day at 103.48. The 10y Treasury yield started the day at the 2.04% level.
Request A Low Rate Mortgage Quote
Economic Data This Week:
Today we have we have the 5y Inflation Outlook and the 1y Inflation Outlook reports along with Consumer Sentiment.
Last months reading for the 5y Inflation Outlook was 2.3% and the 1y Inflation Outlook was 2.3%. The reading for the 5y Inflation out look came in at 2.6% and the 1y Inflation Outlook came in at 2.6%.
Expectations were for a reading of 98.5 (last month it was 98.2) and the actual reading came in at 98.4.
Economic Data Next Week:
There are no major economic reports on Monday. On Tuesday we have monthly Home Prices and Existing Home Sales. On Wednesday we have the weekly Mortgage Market Index and New Home Sales report. On Thursday we have Durable Goods and on Friday we have the Advanced Q2 GDP report.
Expectations for the Advanced Q2 GDP report are for 1.9% growth (down from the 3.1% growth in Q1).
JB Mortgage Capital, Inc.:
We offer industry low mortgage rates for both refinance and purchase transactions, personal one-on-one service and we have an A+ rating with the Better Business Bureau (BBB). We also have a 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 mortgage professional.
When it comes to mortgage rates 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 obtain 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.
Loan Officer Kevin O’Connor:
Kevin grew up in California and works with clients throughout the state. From the initial quote to the application to the final closing; Kevin works directly with each and every homeowner and encourages his clients to ask questions so that they’re better informed. He updates koloans.com on daily basis and you can connect with him on social media: Twitter Rates01