Today’s Mortgage Rates:
Mortgage rates for May 03, 2019 will finish off the week at similar levels to where we started the week after a stronger than expected Employment report. Conforming, FHA and Jumbo fixed rate mortgages remain near their recent lows and a busy week that included important economic data reports and a Fed meeting.
Mortgage Rates - Conforming Loans
Mortgage Rates - FHA Loans
Mortgage Rates - Jumbo Loans
Mortgage Backed Securities and Treasury Snapshot:
Mortgage Backed Security FNMA 4.0 started the day at 102.55, and FNMA 3.5 was at 100.81. The 10y Treasury yield opened the day at the 2.556% level.
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Economic Data This Week:
Today we have we have the BLS Employment report and ISM-Non Manufacturing report.
Expectations were for 185,000 jobs created and increase of 0.3% in wages and an unemployment rate of 3.8%. The final reading was 263,000 jobs created 0.2% increase in wages and a 3.6% unemployment rate.
Bonds sold off significantly post report but have since returned to previous levels (10y moved to 2.577% then back down to 2.55%)
ISM-Non Manufacturing Report:
The ISM-Non Manufacturing report is released at 10am EST. We’ll update the post after the report if there is a significant market reaction. Expectations are for a reading of 57.00 and last months reading was 56.1.
Economic Data Next Week:
Next week is a recovery week! Very little economic data being released. On Wednesday we have the weekly Mortgage Market Index and a 10 year Note Auction. On Thursday we have the Core Producer Prices report and a 30 year Bond Auction. On Friday we have the CPI report (important for 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