Today's Reading Has A Big Impact On Bond Markets:
What does retail sales have to do with mortgage rates? Once a month there is a Retail Sales report which has the potential to influence mortgage rates. With the recent government shutdown the December report was delayed until this morning and the number was a huge miss from what analysts were expecting (good for mortgage rates). After three days of selling in the bond market we're seeing a significant bounce back this morning after the Retail Sales report came in at -1.2 (expectations were for a .2 increase).
Current Mortgage Rates:
We've updated today's mortgage rates and believe there is a decent change we see additional improvements heading into the weekend (not a gaurantee). Fixed mortgage rates (30year, 20year and 15year) are outperforming adjustable rate mortgages right now and probably will for the foreseable future.
Government Shutdown?:
Expectations are the President will sign the legislation pending in Congress to keep the government open. If that doesn't happen and it's announced between now and the market close on Friday we may see further improvements to bond markets and 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 low mortgage rates, personal service and fast closings. We also have an A+ rating with the Better Business Bureau.
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