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At Similar Levels Seen Before Thanksgiving:
Mortgage rates for November 26th, 2018 – The 10y yield opened the day at the 3.06% level and Mortgage Backed Securities are also starting out the day at similar levels seen before the Thanksgiving holiday. There are no major economic reports today but later in the week we have some significant reports including Q3 Prelim GDP and Core PCE. On Tuesday we have the Consumer Confidence report, on Wednesday we have the Q3 Prelim GDP, New Home Sales and Oil inventories (will oil do lower than $50?). On Thursday we have Core PCE and weekly Jobless Claims and to finish the week on Friday we have the Chicago PMI report for November.
Later in December we have the next FOMC meeting (the Fed) and most analyst and investors anticipate the Fed raising rates again. However some are starting to wonder if the FOMC will pause due to a slowing economy as seen by the lowering of Q3 GDP estimates and weaker corporate earnings. If the FOMC decides to pause that could have interesting implications for both the economy and the markets. The economy is clearly slowing compared to Q2 but are they slowing enough to force the FOMC to put the breaks on raising rates? If they do pause that might send shockwaves through the markets as investors come to grips with the idea that the economy has peaked and a further slowdown is on the horizon.
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