Mortgage Rates For July 22, 2019

Today’s Mortgage Rates:

Mortgage rates for July 22, 2019 remain near 2019 lows as the bond market continues to trade within the recent range. There are no major economic reports set to be released today however later in the week we have the Durable Goods and Q2 GDP reports.

Conforming, FHA and Jumbo fixed mortgage rates, for both refinance and purchase transactions, remain attractive as we move closer to August.

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 102.36 and the FNMA 4.0 coupon started the day at 103.50. The 10y Treasury yield started the day at the 2.04% level.

After bonds rallied significantly from May 2019 – June 2019 they reversed coursed and yields moved higher along with mortgage rates. Since early July the bond market appears to be establishing a range in which the lower end of that range is around 1.97% and the higher end of that range is around 2.15%.

It’s still too early to 100% confirm that bonds are in range and that could happen over the next few weeks. And if so this would not be the first time bonds have been range bound in 2019. Starting the first week in January until early March bonds were range bound and then moved significantly lower.

Will history repeat itself?

It all depends on what happens in the economy over the next 1-2 months. If the economy continues to slow down then there is the possibility that we could see another bond rally. However if economic conditions improve and/or the trade deal with China is resolved that will almost certainly push bond yields and mortgage rates higher.

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Economic Data This 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.

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 OConnor

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