Mortgage Rates For February 4th, 2019

Mortgage Raes For Monday:

At the start of the week mortgage rates are under pressure to move higher as both Mortgage Backed Securities and the 10y Treasury Note sold off in morning trade. Last week mortgage rates improved all week until we got to Friday; then we received stronger than expected Employment and ISM reports which sent mortgage rates higher. The selling in bonds has spilled over to this week however it seems to be settling down as we head into the afternoon hours.

Economic Calendar:

This week we have the ISM-New York and Facotry (ex-transportation) reports on Monday. The next day we have Trade Data, and the ISM Non-Manufacturing report. Wednesday brings the usual weekly mortgage data for both refinances and purchases along with Labor Costs data for the foruth quarter. On Thursday we the Consumer Credit report and an important 30y bond auction. Still waiting on the Retail Sales report and the Durable Goods report that was delayed due to the government shutdown.

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JB Mortgage Capital, Inc.:

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