Today’s Mortgage Rates:
Mortgage rates for July 29, 2019 are improved compared to late last week as bond markets open today is positive territory. Conforming, FHA and Jumbo fixed mortgage rates are near their multi-year lows. Later in the week is the Core PCE report, Fed decision, Employment report and the ISM Manufacturing PMI report. While today will most likely be a quiet day for bond markets that could easily change starting tomorrow with the Core PCE report.
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 103.53. The 10y Treasury yield started the day at the 2.05% level. As mentioned above; mortgage rates in California remain near their 2019 lows.
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Economic Data This Week:
There are no major economic reports on Monday.
On Tuesday we have the PCE and Core PCE report, Consumer Confidence, Pending Home Sales and the CaseShiller Report. Also on Tuesday is the start of the two-day FOMC meeting (the Fed). On Wednesday we have the weekly Mortgage Market Index, ADP Employment, Chicago PMI and the Fed decision.
On Thursday we have the ISM Manufacturing PMI and weekly Jobless claims reports. On Friday we have the monthly Employment report along with Consumer Inflation Expectations (1y and 5y) and Consumer Sentiment reports.
Expectations are that the Fed is going to lower a .25%. Please keep in mind that it does not mean that mortgage rates will move down by a .25%. The market has fully anticipated this move. What will be important is what the Fed has to say about future rate cuts and the economy. They most likely have the ISM and Employment reports (or at least a draft version) and those reports may influence the wording they use in the statement they issue post meeting.
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