home: Mortgage Rates January 2020 - 01/06/20 12:23 PM
Mortgage rates in January, 2020 are starting off the month near their recent lows as the Mortgage Backed Securities market and Treasury market improve during this first week of January. Last weeks Chicago PMI report, Consumer Confidence report and ISM Manufacturing report, which were all weaker than expected, really helped start the new month and the new year off on the right foot. Moving forward though we're going to have to see more bond friendly reports to maintain this stability. One thing mortgage rates don't like is volatile markets so ideally we would like to maintain the status quo heading into the BLS … (0 comments)

home: Tips For Refinancing 2020 - 12/28/19 10:06 AM
With mortgage mortgage rates just above multi-year lows industry experts are anticipating 2020 to be a good year for refinancing. Whether it's to lower an interest rate, obtain cash out to improve the home or payoff debts to possibly obtaining a short term (moving from a 30 year fixed rate to a 15 year fixed rate) the opportunities are there for homeowners to improve their financial situation.
Reasons To Refinance:
Every situation is unique and the a golden rule for refinancing is this: only refinance if it puts you in a better financial position. Never do a refinance unless its clear that you are achieving … (0 comments)

home: FHA Loan Limits 2020 - 12/28/19 09:40 AM
FHA (Federal Housing Administration) loan limits have been increased for 2020. This is great news for both homeowners looking to refinance their mortgage (lower rate, cash out, shorter term) or home buyers looking to purchase a new home. It's important to remember the following; when buying a home with a FHA loan you can only use that loan to purchase a primary residence. Investment properties and vacation homes are not allowed.
The New Limit:
Mid-December 2019 HUD made the announcement; loan limits for FHA loans was increasing by nearly $17,000 and in high cost counties the increase is over $35,000 in 2020! Wow; big news for … (3 comments)

home: Durable Goods Report Helps MBS - 12/23/19 06:23 AM
This morning's Durable Goods report (for November) was below expectations and sparked a rally in the Mortgage Backed Securities (MBS) market.
Expectations were for a 1.5% increase The report showed a decline of -0.2% The biggest reason for the decline in Durable Goods can be attributed to Boeing. Defense and Aircraft orders (or lack there of) were a big reason for the decline; most other areas showed decent gains.
What does this mean for mortgage rates?
It will help keep a lid on the recent trend in which mortgage rates were inching higher as we head into the holiday season. Overall though, mortgage … (0 comments)

home: Impeachment And Mortgage Rates - 12/22/19 02:08 PM
A great question lately is this: Will mortgage rates change because of the impeachment of President Trump? This quick answer is probably not but the final say on that is still pending. As many of you know; mortgage rates can fluctuate based on economic reports, national or international events or political news that may have an impact on the economy.
When it comes to mortgage rates it's imoportant to remember that mortgage rates originate in the Mortgage Backed Securities market (MBS). And to be clear; the Fed does not set mortgage rates. They have an influence over the bond markets but no direct … (2 comments)

home: 2020 Conforming Loan Limits - 12/21/19 10:45 AM
It's that time of year again; formal announcement by the Federal Housing Finance Agency (FHFA) about the 2020 Conforming loan limits. As expected the FHFA raised the limit to $510, 400 (one unit properties) and in some counties as high as $765,600.
This is a great news for homebuyers and homeowners; especially in the the state of California where home values are much higher than the national average. 
Top Counties:
Here is a short list of some of the top loan amount counties in California. Raising the conforming loan limits in California will enable more homebuyers and allow more homeowners to refinance their current … (0 comments)

home: Mortgage Rate Update April 2019 - 04/17/19 12:32 PM
Mortgage Rates Have Moved Higher:
Remember the excitement back in March? Mortgage rates were moving lower and nearly everyone was saying mortgage rates would either keep going lower or worse case still low for a long time.
Well that didn't happen.
For nearly two weeks we've seen mortgage rates nationwide move higher. California mortgage rates are some of the most aggressive mortgage rates in the country due to loan sizes however we've also seen our share of mortgage rates moving higher. In our market we've seen a 0.125% - 0.25% increase in rates since April 1st.
Is It Still A Good Time To Buy or Refinance:
Absolutely however a … (0 comments)

home: Mortgage Rate Update March 2019 - 03/18/19 02:50 PM
Mortgage Rate Update For March 2019:
Conforming and FHA mortgage rates are at their lows for 2019. In addition to that they are at a level not seen in over 12 months as both the Mortgage Backed Securities Market and Treasury bond market continue to rally. As we move further into the month many industry proffessionals believe mortgage rates will remain at these levels or possibly improve a bit from these levels. How mortgage rates finish out the last few weeks of March depends a lot on the Fed has to say Wednesday afternoon. Current mortgage rates are priced agressively heading into the … (0 comments)

Kevin O'Connor, Helping Homeowners Achieve Their Dreams. (JB Mortgage Capital, Inc.) Rainmaker large

Kevin O'Connor

Helping Homeowners Achieve Their Dreams.

Riverside, CA

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JB Mortgage Capital, Inc.

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