Today’s Mortgage Rates:
Mortgage rates for May 21, 2019 are a bit higher today due to recent selling in the Mortgage Backed Securities market. The move higher is minimal and for the most part a fairly “normal” day-to-day adjustment the market sometimes makes.
30 year and 15 year fixed Conforming mortgage rates remain near their 2019 lows; FHA and non-conforming Jumbo mortgage rates also remain at very attractive levels heading into the last month of Spring.
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 101.06 and the FNMA 4.0 coupon started the day at 102.67. The 10y Treasury yield opened the day at 2.43%.
The bond market started to selloff yesterday and it appears to be continuing into today. The good news is that the selling is not significant (at least not as of this morning) so the impact to mortgage rates has been minimal.
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Economic Data This Week:
Today 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.
Existing Home Sales:
The Existing Home Sales report comes out later today. Generally the report has no impact on the Mortgage Backed Securities market and no impact on mortgage rates however if there is one today I’ll update the post.
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