Starting The Day On A Positive Note:
Mortgage Backed Securities started the day in positive territory which is a continuation from yesterday's rally. Weak corporate earnings and a declining stock market helped improve mortgage terms yesterday and that may continue on Tuesday. Mortgage rates for January 29th, 2019 will see somewhat improved terms with most lenders.
The Fed:
Today is day one of the two day FOMC (Federal Open Market Committee, aka "the Fed") meeting. No one is expecting the Fed to raise rates today (that would be a huge surprise and bad for mortgage rates) however analyst want to know what the Fed thinks about the economy currently and going forward. The not so famous "dot-plot" will definitely be a focal point for investors (you can read more about the Fed dot-plot on www.koloans.com/mortgage-rates/ mortgage rates for Jan 29th). Two additional items that will be interesting are how the government shutdown affected the economy and how the government shutdown affected the Fed's ability to gather data. Their report/decision is released 2pm EST; stay tuned!
Average Mortgage Payment:
We recently updated our average mortgage payment in California page with the most recent studies, current statistics and loan payment examples.
Trade Tensions With China Increase; Might Help Mortgage Rates:
With the recent arrest and now indictment of Meng Wanzhou, the Chief Financial Officer for the Chinese company Huawei, the trade tensions between China and the US are sure to increase. Prior to yesterday the Chinese government repeatedly demand she be released. The indictment of Ms. Wanzhou might create another layer of issues to the trade talks and further decrease the possibility of a trade deal. While this is bad for the economy it's actually good news for mortgage rates.
JB Mortgage Capital, Inc:
If you are looking to purchase a home or refinance a current mortgage please be sure to contact us for a no-cost/no-obligation quote. We offer a high level of personal service and low fixed rate and adjustable rate mortgage at great terms: 1-800-550-5538
Comments (0)Subscribe to CommentsComment