Today’s Mortgage Rates:
Mortgage rates for June 26, 2019 remain near their recent lows as refinance applications surges. Today we have the Durable Goods report and later in the week is the Chicago PMI report and the Core PCE Inflation report.
Both reports could have an impact on the bond market and mortgage rates as we move into the first week of July. Also later in the week is the G20 Summit and the meeting between President Trump and President Xi of China. There is a little to no expectations that that a final agreement will be reached when they meet.
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 102.13 and the FNMA 4.0 coupon started the day at 103.20. The 10y Treasury yield started the day at the 2.02% level.
Request A Low Rate Mortgage Quote
Economic Data This Week:
Today 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.
Mortgage Market Index:
The Mortgage Market Index came in at 518.7; last weeks reading was 511.8. However purchase applications slowed; last weeks reading was 268.6. This week’s reading came in at 266.3.
The overall increase in the index came from Refinance Applications. With mortgage rates at multi-year lows homeowners jumped at the opportunity to secure a lower rate mortgage. The Refinance Application Index came in at 1949.5; last weeks reading came in at 1888.8.
Expectations for the Durable Goods report were for a reading of -0.1% decline. The reading came in much lower than expectations; -1.3% and the previous month was revised lower to -2.8%.
Overall this continues a negative trend for Durable Goods and adds to the concern that the economy might be slowing more than expected. While a positive for bonds and mortgage rates it’s a negative for the economy.
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