Today’s Mortgage Rates:
Mortgage rates for May 29, 2019 are starting off the day at similar levels to yesterday as the bond market continues to rally this week. The 10y Treasury continues to rally pushing the yield to multi year lows. However the gains in the Mortgage Backed Securities market have been minimal.
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 101.59 and the FNMA 4.0 coupon started the day at 102.97. The 10y Treasury yield opened the day at 2.22%.
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Economic Data This Week:
Today we have the Mortgage Market Index and on Thursday we have the weekly Jobless Claims report and the preliminary Q1 GDP report. On Friday we have the PCE and the Core PCE report along with the Chicago PMI report and Consumer Inflation Expectations.
Mortgage Market Index:
The Mortgage Market Index came in at 411.5 which is lower than last week’s reading of 425.6. The MBA Purchase Index came in at 259.4; last week the reading came in at 263.00. The Mortgage Refinance Index came in at 1255.4 which is lower than the 1334.9 reading from last week.
Mortgage loan application volume still remains low despite mortgage rates being near multi year lows.
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