Today’s Mortgage Rates:
Mortgage rates for June 06, 2019 are starting off the day in positive territory. News out of Europe is helping keep US bond yields low along with the potential for a new round of tariffs on products made in Mexico.
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 103.27. The 10y Treasury yield opened the day at 2.11%.
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Economic Data This Week:
On Friday we have the monthly BLS jobs report along with Wholesale Inventories.
Economic Date Next Week:
On Tuesday we have Core Producer Prices for May. On Wednesday we have the weekly Mortgage Market Index and the Core Consumer Prices Index (CPI). On Thursday we have Export and Import Prices and on Friday we have Retail Sales, 1yr and 5yr Inflation Outlook along with Consumer Sentiment.
European Central Bank and Mortgage Rates:
Earlier this morning the ECB announced the following:
- RTRS – ECB SAYS GC EXPECTS KEY ECB RATES TO REMAIN AT PRESENT LEVELS THROUGH H1 2020
- RTRS – ECB KEEPS BENCHMARK REFINANCING RATE UNCHANGED AT 0.00%
- RTRS – ECB SAYS WILL KEEP INVESTING REPAYMENTS
One of the main reasons mortgage rates have improved in 2019 is because of the economic problems in Europe. In fact things are so bad in Europe that the German 10yr yield is in negative territory (-0.22 as of this morning). Spain and the UK both have 10yr yields below 1%.
Economic growth in Europe has come to a stand still in 2019 and because of that bond yields in both Europe and the United States have improved. As bond yields have improved so have mortgage rates. The trade war with China and our own economic slowdown have played a role as well.
Moving forward it will be important to see how the current situation in Europe develops. If it gets worse then bond yields will continue to fall and this might impact mortgage rates in a positive way. If things get better in Europe then this will have a negative impact on mortgage rates.
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