Mortgage Rates:
Mortgage rates will start the day at similar levels seen last week as Mortgage Backed Securities open the day slightly negative. 30 year fixed rates and 15 year fixed rates are the two most attractive loan programs right now. Later today there is the 2y auction and the 5y auction; typically they have little impact on current mortgage rates however you should still keep an eye on them. If you would like up-dates through out the day you can always follow us on Twitter: @Rates01
Fed Meeting:
We have the Fed meeting this week and it will be interesting to see what the say about the economy and the potential negative affects of the government shutdown. No one is expecting the FOMC to raise and most analyst will be focused on what they have to see in their press release.
Big Week For Economic Data:
In addition to the regularly scheduled data (ADP, BLS etc) we also have the add ons....the add ons are the reports we didn't receive due to the government shutdown. It will be interesting to to see if the best mortgage rates in California will arrive after we make it through all the data or will this week's data put pressure on mortgage rates to move up. Another potential option is that mortgage rates do nothing; all the data and the Fed meeting come in as expected and there are no surprises. It's impossible to say for certain what will happen however what is for certain is that there will be a lot of information for markets to digest with Friday potentially being the biggest day of the week.
JB Mortgage Capital, Inc.
If you are looking to purchase a home or refinance a current mortgage please be sure to contact us directly for a no-cost/no-obligation quote. We offer low mortgage rates and one-on-one personal service to each and every client.
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