Mortgage Rates For Wednesday:
Mortgage rates remain near their one year lows this morning. Mortgage rates for Wednesday February 6th, 2019 will start the day at improved levels as both Mortgage Backed Securities and the Treasury market start the day in positive territory. Yesterday's rally in bonds appears to be spilling over to today after this mornings mortgage applications data. Mortgage rates in February have been stable for the most part and that trend looks to continue the rest of the week.
Today there is a 10y Note auction and depending on the outcome of the auction it could move mortgage rates later this afternoon.
State of the Union Address:
Last night was the State of the Union Address and it does not appear it will have any positive or negative impact on mortgage rates (which is good news). If the speech included significant new spending plans that actually seemed like they would pass through Congress then bond investors would be concerned about a possible increase in inflation which would cause them to sell bonds and push mortgage rates higher.
Here Is Next Weeks Economic Reports That Are Important To Mortgage Rates:
- Wednesday: The Core CPI report and weekly mortgage application data
- Thursday: Core Producer Prices report and weekly unemployment claims
- Friday: Import and Export prices and the 1y and 5y Inflation Outlook
There are no important econmic reports on Monday and Tuesday.
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 low mortgage rates, one-on-one personal service and fast closings.
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