Mortgage Rates March 20, 2019

Today’s Mortgage Rates:

Today is Fed Day! The Fed announcement is at 2:00pm today and heading into that mortgage rates are at their best levels of 2019. In fact, today’s mortgage rates are the lowest they’ve been in over a year. Will today’s Fed announcement push them lower? Hard to say and we’ll have to wait and see. For all the latest news on the Fed announcement and how mortgage rates react please be sure to visit our Fed meeting March 2019 post. I’ll be updating the post throughout the day as news comes in and pass along any significant shifts in mortgage rates.

UPDATE – Be sure to visit our Fed Meeting March 2019 page; lots of great news for mortgage rates!

Mortgage Rates - Conforming Loans

Mortgage Rates - FHA Loans

Mortgage Rates - Jumbo Loans

Mortgage Backed Securities and Treasury Snapshot:

Mortgage Backed Security Coupon FNMA 4.0 opened the day at 102.41 and the 10y Treasury yield started the day at the 2.58% level. If the announcement from the Fed is bond market friendly we could see a significant rally pushing the 10y yield much lower. That being said it’s difficult at best to predict what the Fed will say and how the bond market will react.

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Economic Data – This Week:

Today we have the Mortgage Market Index and the Fed decision. On Thursday we have the weekly Unemployment claims report along with the Philly Fed Business Index for March. to finish off the week we have Existing Home Sales  and Wholesale Sales and Inventories.

Mortgage Market Index:

This mornings data came in stronger than last week which is good news for the mortgage industry and housing industry. The overall Mortgage Market Index came in at 390.00 and last week it came in at 384.00. The Mortgage Market Refinance Index came in at 1146.8 and last week the reading came in at 1108.3. The Purchase Market Index came in at 251.5 and last week’s reading was 250.8.

Despite mortgage rates being low, loan application volume has been low in 2019. If 30 year fixed mortgage rates were to move below 4.00% many industry professionals believe the loan application volume would pick up.

JB Mortgage Capital, Inc.:A+ Rating

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 OConnor

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 on daily basis and you can connect with him on social media: Twitter Rates01