Today’s Mortgage Rates:
Mortgage rates for May 16, 2019 are finishing off the week near the lowest levels of 2019. With the improvements we’ve seen in the Mortgage Backed Securities (MBS) market Conforming fixed rates and FHA fixed rate mortgage continue to offer the most attractive terms to consumers.
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 102.86, and FNMA 3.5 was at 101.34. The 10y Treasury yield opened the day at 2.36%.
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Economic Data This Week:
Today we have the 1yr and 5yr Inflation Outlook report. The report comes out at 10am EST; if it ends up having an impact on mortgage rates I’ll update the post with that information.
Economic Data Next Week:
On Tuesday we have Existing Home Sales. On Wednesday we have the weekly Mortgage Market Index and on Thursday we have the weekly Unemployment Claims and New Home Sales. On Friday we have the Durable Goods report and the markets close early for Memorial Day.
As you can next week’s economic calendar is light. That means mortgage rates will be more susceptible to the news cycle. The US – China trade ware and economic conditions in Europe could play an important role next week.
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