Mortgage rates for January 16, 2019 will start the day under pressure as both the Mortgage Backed Securities market and Treasuries are selling off to start the day. That being said; bonds are in their recent range to start the day which is a positive for mortgage rates.
As mentioned yesterday, bonds and mortgage rates have been in a range since January 8th. After the sharp move down it’s good to see some stability return and ultimately this is good for mortgage rates. Are there still risks for mortgage rates moving back up? Absolutely, things could change drastically without notice (it’s happened in the past) however the overall outlook for mortgage rates is more positive than negative.
Today we were supposed to have Retail Sales for December, however due to the government shutdown the Retail Sales report will not be issued today. Export prices and Import prices for December came in negative.
Yesterday we had the Producer Prices Index for December, Core Producer Prices Index, and the NY Fed Manufacturing Index for Jan. All three report came in below expectations however the weaker reports had little to no effect on Mortgage Backed Securities. Thursday it’s the Building Permits report along with Housing Starts and Philly Fed Index for January.
To finish out the week we have Industrial Production, Consumer Sentiment and the 1yr and 5yr inflation outlook.
FHA Mortgage Rates
Currently We Are Seeing:
30 year fixed mortgage rates below 4.25%, 20 year fixed mortgage rates below 4.125% and 15 year fixed rates below 3.625%. 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 get 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.
The Best Mortgage Lenders For Refinancing:
Finding the best mortgage companies in California is not as hard as you think. It starts with locating companies and Loan Officers that have a solid and verifiable reputation. Working with a Loan Officer that has at least 5 years experience is also key. Where do you start to look to find the best mortgage lenders for refinancing? We always suggest to got to the longest most respected consumer advocacy group first; the Better Business Bureau.
If a company has less than an A rating I highly suggest you dig a little further into their history. If a company has less than a B rating I personally would look elsewhere. Additional options might be Zillow, Yelp and Mortgage101.
And you can verify a Loan Officers experience easily; just go to the National Multi-state Licensing System’s website (NMLS) and you can see the Loan Officer’s job history. Then you can go to the California Department Of Real Estate’s website to check the status of both the company and the Loan Officer. All this takes less than 5 minutes and literally could save you thousands of dollars on your next refinance transaction.
JB Mortgage Capital, Inc.:
We offer industry low mortgage rates, personal one-on-one service and we have an A+ rating with the Better Business Bureau. We also have the 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 Loan Officer. You can contact him directly at 1-800-550-5538.