Today’s Mortgage Rates:
Mortgage rates for June 20, 2019 are improved compared to yesterday’s level as the bond market starts off the day in positive territory. The Fed announced their rate decision yesterday and while they did not lower they did express concern for the economy moving forward. The Fed decision to hold rates for now was not surprising and Fed President Powell’s press conference confirmed they are closely watching in case action is needed.
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 102.44 and the FNMA 4.0 coupon started the day at 103.44. The 10y Treasury yield started the day at the 1.99% level.
Overnight the 10y Treasury yield moved down to the 1.97% level as concerns that the US Economy is slowing start to grow.
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Economic Data This Week:
Today we have the Philly Fed Business Index and the weekly Unemployment numbers. On Friday we have Existing Home Sales for May.
Philly Fed Index:
Last month’s reading was 16.6, and expectations for this month were 11.0 however the final reading came in much lower that; 0.3. Earlier in the week we had a disappointing New York Manufacturing report and now we have a disappointing Philly Fed Index report. These are not good reports for the economy and because of that should help keep mortgage rates stable as we move further into June.
Weekly Jobless Claims:
Jobless claims decreased this week from last weeks reading of 222,000 to today’s reading of 216,000.
Economic Data Next Week:
There is no Economic Data on Monday. On Tuesday we have the CaseShiller report, New Home Sales and Consumer Confidence. On Wednesday we have the weekly Mortgage Market Index and the Durable Goods report for May. On Thursday we have the final Q1 GDP reading and to finish off the week on Friday we have Personal Income report, Core PCE, Consumer Inflation Expectations, Consumer Sentiment and the Chicago PMI 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 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