Today’s Mortgage Rates:
Mortgage rates for June 05, 2019 are similar to rates/terms seen earlier in the 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 102.03 and the FNMA 4.0 coupon started the day at 103.23. The 10y Treasury yield opened the day at 2.11% (same as yesterday).
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Economic Data This Week:
Today we have the weekly Mortgage Market Index, ADP Employment report and ISM non-manufacturing PMI for May. On Friday we have the monthly BLS jobs report along with Wholesale Inventories.
Mortgage Market Index:
The overall Mortgage Market Index came in higher than last week. Last week’s reading was 411.5 and this week’s reading was 417.8. The MBA Purchase Index came in at 253.1 (last week 259.4) and the Mortgage Refinance Index came in at 1335.6 (last week 1255.4). And the average 30 year fixed rate (nationwide) was 4.23% (with points).
ADP National Employment Report:
Expectations were for a 180,000 jobs created and the reading came in at 27,000 (last months reading was 275,000). A disappointing report for the economy but a positive for bond markets and mortgage rates heading into the BLS month Employment report. Post report the 10y Treasury yield moved from 2.11% to 2.09%. Mortgage Backed Securities also improved.
ISM Non-Manufacturing PMI:
The ISM Non-Manufacturing PMI report comes in later today. If there are any significant movements in the market post report will update today’s post with that information. Expectations are for a 55.5 reading.
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