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California Home Loan Rates 03-12-2019

by  | JB Mortgage Capital, Inc.
Posted:     Updated: Mar 12, 2019  18:59 ET
 
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Today's California Home Loan Rates:

Home loan rates for March 12th, 2019 started off the day at similar levels to yesterday. The Mortgage Backed Securities market and Treasuries both started the day in positive territory. 30 year fixed mortgage rates were below 4.375%, 20 year fixed mortgage rates were below 4.375% and 15 year fixed mortgage rates were below 4.00%. Since the beginning of 2019, California home loan rates have been the most aggressive mortgage rates in the country. Mortgage applications for refinancing and purchasing a home remain below expectations despite home loan rates being at their best levels in 2019. This mornings CPI report was a positive for the bond market and mortgage rates.

Fed Meeting Next Week:

Next week is the next Fed meeting and all eyes will be on what the Fed has to say about the economy and future expectations. In addition to that analyst are hoping to hear more about the balance sheet reduction program. The Fed has communicated that they are actively discussing ending the balance sheet reduction program and this would be a positive for both bond markets and mortgage rates. Will it dramatically reduce mortgage rates? Unlikely but it may end up being a positive influence on the direction of bond yields and mortgage rates.

Home Loan Moving Forward:

Today's bond market rally was good for mortgage rates and if today's rally is confirmed by next week we may see another move down in California home loan rates. It's important to remember; rates could very easily move up from here and nothing is certain. Right now mortgage rates are at the bottom of the range established back in January and each time we've been at this level they've moved higher. Is this time different?

Topics: Residential conventional loans | Commercial lending
More by: Kevin O'Connor

 

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  1. Posted: Mar 18, 2019  7:25 ET
    By: Nil Mel | Popugay
    1. 0


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California Home Loan Rates 03-12-2019

by Kevin O'Connor | JB Mortgage Capital, Inc.
Posted: Mar 12, 2019  18:55 ET    Updated: Mar 12, 2019  18:59 ET

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