Kevin O'Connor's (rates01) Blog

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Mortgage and Lending - JB Mortgage Capital, Inc. - NMLS# 247447
RECENT BLOG POSTS
Mortgage rates on Friday December 27th, 2019 were stable as the bond market finished the week in rally mode. The 10 year tresury yield moved below 1.90% and MBS Fannie Mae prices rallied before closing. There were no major economic reports today however there are few notable ones next. That being...
12/27/2019
As I previously mentioned; this time of year things are slow in the mortgage industry...really slow. But that doesn't mean applications are at zero so for those that are looking to start a new application to purchase a home or refinance a mortgage we're here to help!What a differene a year makes....
12/26/2019
2019 was a great year in the mortgage industry and for mortgage rates.During the month of October 2019 30 year fixed mortgage rates moved above 5.00%. Following that spike in mortgage rates they improved for the next 9 months. There were some months where mortgage rates moved higher during that t...
12/24/2019
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....
12/23/2019
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...
12/22/2019
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 homeowner...
12/21/2019
Mortgage Rates Moved Higher Today:After several news outlets reported progress in the US-China trade talks bonds sold off and mortgage rates moved higher. A possible US-China trade deal has been one of three major risks to low bond yields and mortgage rates.Here are the three major risks bonds an...
11/07/2019
Consumer Confidence:The Consumer Confidence report was released this morning. Expectations were for a reading of 125.0. However the actual reading came in at 135.7; significantly higher than expected. Last months reading was 121.5.Generally speaking; positive economic reports equal higher mortgag...
07/30/2019
GDP Advance Q2 Report:Earlier today the GDP Advance Q2 report came out higher than expected. Investors were expecting a reading of 1.8% however the actual reading came in at 2.1%. Stronger than expected however it's still lower than the 3.1% gain in Q1 2019. Treasuries and Mortgage Backed Securit...
07/26/2019
A "Strong" GDP Number And Better Mortgage Rates:Today might be the time in my 14+ year career as a Loan Officer that I've typed that sentence. A general rule of thumb when it comes to mortgage rates is this:A stronger than expected economic report (like GDP) can push mortgage rates higher.Does it...
04/26/2019
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