Mortgage Rates For January 28, 2019

Mortgage rates for January 28, 2019 will start the week at similar levels seen on Friday as both Mortgage Backed Securities and the 10y Treasury open slightly negative. FNMA 4.0 opened the week at 101.64 and the 10y yield as at the 2.76% level.

This is a big week for the economy and mortgage rates. Lot’s of things going on including the Fed meeting and several economic reports that were previously delayed due to the government shut down. Friday especially could be a block buster day with Retail Sales and Durable Goods added to the agenda of economic reports being released.

I personally do not remember a week in which we had so many important reports set to be released and along with that a FOMC meeting.


It’s Fed Decision Week:

Tomorrow the Federal Open Market Committee (FOMC, aka the Fed) has their first meeting of 2019 this week and on Wednesday they’ll issue their guidance. No one is expecting the Fed to raise however investors are very much interested in what the Fed has to say about the current state of the economy and how they see things progressing over the next 3-6 months. The lowest California mortgage rates in 2019 occurred a few weeks ago; will they return post Fed meeting?

FHA Mortgage Rates

Economic Data:

There are no economic reports today however there is a 2y auction and a 5y auction. On Tuesday we have the Case Shiller Index and Consumer Confidence. On Wednesday we have the weekly Mortgage Market Index, Refinance Index and Purchase Index along with the ADP National Employment report, Advanced GDP and the Fed Decision. On Thursday we have the Core PCE report, Chicago PMI Employment Wages and Personal Incomes.

On Friday we have the BLS Employment report, ISM Manufacturing PMI, Retail Sales and Durable Goods.

It Could Be A Huge Week For Mortgage Rates:

With all that is going on this could be a huge week for mortgage rates. Will this week confirm the rally that started back in November? Or will the data be better than expected erasing the rally?

As mentioned above; I do not remember a time in which we had so many important economic reports being released and a Fed meeting on the calendar. One of three things could happen this week; the data disappoints which is good for mortgage rates, data is mixed and essentially a non-event or the data is better than expected which would potentially send mortgage rates higher.

Government Shutdown:

Last Friday there was an agreement to temporarily re-open the government so workers could receive their paychecks. The main issues blocking a long-term agreement are still there and according to most reports the two sides are still far apart. The likelihood another government shutdown occurs is high and we’ll keep an eye on any potential impacts this may have on mortgage rates.

Currently We Are Seeing:

30 year fixed mortgage rates below 4.375%, 20 year fixed mortgage rates below 4.25% 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. We’ve also recently added our California mortgage rates page for our readers as well.

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 (BBB). 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.

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Loan Officer Kevin O'Connor

Loan Officer Kevin O'Connor

He is the founder and main contributor of He has over 16 years of experience as a Mortgage Loan Originator (MLO) and is fully licensed with the state of California and the Nationwide Mortgage Licensing System (NMLS). He has a top rating with the Better Business Bureau, Google, and Zillow. He continually delivers the results homeowners are looking for; low rates, fast closings, and exceptional service. CA DRE #01499872 and NMLS # 247447