Mortgage rates for May 17, 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. We’re almost five full months into 2019 and so far it’s been a great year for mortgage rates. This has really helped fuel the housing industry for both existing home sales and new home sales.
FHA Mortgage Rates
Jumbo Mortgage Rates
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%.
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. The 1yr and 5yr Inflation Outlook report usually doesn’t surprise the markets much and since it’s an “Outlook” rather than a snapshot of what is currently going on it doesn’t have the same impact on the markets as the CPI or CPP report do. Nonetheless it’s still important to watch as is any other report that measures current inflation or future expectations for inflation.
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.
Local Realtor Spotlight – Merced, California:
If you are buying a home in the Merced area I highly suggest you higher a local Realtor to represent you. Having the right Realtor on your team will not only help you find that special home but also having the right Realtor means you’re in a better position to buy that home at a great price. Your local Realtor will work closely with your mortgage lender to ensure a smooth and efficient transaction. If you have any questions along the way be sure to ask your team; that’s what they are there for.
Merced Yosemite Realty:
Located at 2849 G Street, Merced, CA 95340 Merced Yosemite Realty is a full service realty company. Their direct number is (209) 722-5400. According to their website they offer “Everything Real Estate” which includes residential real estate services (under the Better Homes and Gardens umbrella) along with property management services, rentals and even construction.
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.