Mortgage Rates For March 05, 2019

Written by Posted On Tuesday, 05 March 2019 08:23

Mortgage Rates For Tuesday March 5th, 2019:

Overall mortgage rates are starting off the day at similar levels to yesterday. 30 year fixed mortgage rates remain below 4.50% and 15 year fixed mortgage rates remain below 3.50%. The 10 year Treasury yield was at the 2.74% level; last week it was approaching 2.80%. This morning's data was a bit stronger than excepted. New Home Sales came in at a 3.7% increase and Non-Manufacturing PMI came in higher as well; a final reading of 64.7. Most analyst expected the New Home Sales data to come in showing a decline so seeing the rebound is good news for the economy.

Mortgage Rates and The Employment Report:Real Estate Market Trends You Should Expect in 20192

On Friday is the monthly Employment report. Recently these monthly reports have been very strong and have caused mortgage rates to move higher (in the short term). Many mortgage industry professionals are eagerly awaiting Friday's report and hoping it's not another "blockbuster" type report. With mortgage rates already near their recent highs and super strong Employment report could mean 30 year fixed rate move back above 4.50%.

Consumer Mortgage Rate Updates:

One of the biggest issues consumers face when it comes to current mortgage rates is where to get up-to-date and accurate information. And we all know most of those "rate tables" only list mortgage rates that most home owners can't get or they are simply not believable. That's why it's important to find a trusted source; a mortgage company that has a great reputation. Fixed mortgage rates and adjustable mortgage rates can adjust daily. They can even adjust several times in one day. Those that are about to refinance their current mortgage or home buyers about to make an offer on a home need to make sure they stay informed with where mortgage rates are at.

The Rest of the Week:

Mortgage rates the rest of the week will most likely stay near today's levels unless we see really strong economic data before Friday. Or if news breaks that the US - China trade war is ending that also might push mortgage rates higher. Tomorrow is the ADP Employment report; this rarely moves mortgage rates however it can sometimes give us a glimpse as to what we might see on Friday with the BLS Employment report.

 

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Kevin O'Connor

California Mortgage Finder, Loan Officer Kevin O’Connor. Low rates, fast closings, and exceptional service. Over 20 years of experience in the mortgage industry, and top ratings with Zillow, Google, and Yelp. Loan Officer Kevin O’Connor (NMLS #247447 and CA DRE #01499872) has the resources to deliver unparalleled results. He works in association with JB Mortgage Capital, Inc., an “A+” rated mortgage broker licensed by the state of California (NMLS #238036 and CA DRE #1836772).

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