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10y Yield Is Moving Down – Good For Mortgage Rates:
Mortgage rates for November 21st, 2018 – The 10y yield opened the day at the 3.07% level however after this mornings economic data reported the 10y yield moved down due to a weaker than expected Durable Goods report. Overall mortgage rates should start the day at similar levels (compared to yesterday). On the economic calendar today we had the Mortgage Index reports (weaker, near a 20 year low!), along with Housing (pending) and Durable Goods (weaker). The Durable Goods report was not only weaker than expected but the revisions for last month were lower than than the initial report. Weaker data usually results in positive moves for bonds however today is the day before Thanksgiving so traders are positioning themselves for a long “holiday weekend”. There are no reports on Thursday and Friday. As mentioned last week the next FOMC (the Fed) meeting is December 18th – 19th. Many analyst and investors expect the Fed to raise rates again.
Currently we are seeing 30 year fixed mortgage rates below 5.00%. 20 year fixed mortgage rates below 4.875% and 15 year fixed rates below 4.00%. Mortgage rates adjust daily; sometimes they adjust multiple times in a day when the bond market is volatile. At JB Mortgage Capital, Inc. we offer residential mortgage loans on 1-4 unit properties for both purchase and the refinance of a current mortgage. We have loan programs for both fixed rate mortgages and adjustable rate mortgages.
JB Mortgage Capital, Inc.:
Call us today for a no cost – no obligation quote at 1-800-550-5538. We offer industry low mortgage rates, the latest technology and have a top rating with the Better Business Bureau.
“As a first time home buyer, I really didn’t understand the whole mortgage business. Kevin took me through each step and educated me on the whole process. He was diligent, organized, and always kept me abreast of new developments. He worked hard to provide me with many different options from which to choose. I felt confident that if something needed to be done, Kevin would make sure to follow it to completion. I recommend him highly !!!”
Woodland Hills, CA