Mortgage Rates At New All Time Lows Ahead Of Key Jobs Report

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May 31, 2012 2:48PM Mortgage Rates At New All Time Lows Ahead Of Key Jobs Report Mortgage Rates improved again today as domestic economic data joined with ongoing fear of a European currency collapse to send US Treasury yields well into new all time lows. Mortgage rates duplicated that feat, but not nearly as convincingly. After being stuck in the mud for months at 3.875%, the mortgage rate levy broke, giving way to 3.75% recently. With today's gains, some lenders are at a 3.625% Best-Execution rate for 30yr Fixed Conventional Loans. (Read More: What is A Best-Execution Mortgage... May 31, 2012 4:42PM Lines Drawn over California Homeowner Legislation There is a bit of a dust-up going on over passage of a Homeowner Bills of Rights in California . The Center for Responsible Lending ( CRL ) and the Mortgage Bankers Association ( MBA ) have weighed in on opposite sides of the package consisting of six bills sponsored by Attorney General Kamala Harris. Harris, when she introduced the legislation, said that they had a goal of providing homeowners with a system where the rules are clear, where everyone gets a fair shot and everyone has equal standing... FHFA Veteran Picked to Run Strategic Plan for Fannie and Freddie Mortgage Fraud Rates Show Some Purchase/Refi Correlation MBS RECAP: Some Month-End Volatility, But Bond Markets Hold Gains HOPE NOW Reports 43K Loan Modifications in April Mortgage Insurers Wrote $7 Billion in PMI Last Month MBS MID-DAY: Another Day, Another Melt-Down Snowball Rally View: Front Page | Headline Viewer Micro News 4:33 PM: LPS' April Mortgage Monitor Shows Sharp Jump in FHA Foreclosure Starts 4:26 PM: Fannie Mae Releases April 2012 Monthly Summary 4:16 PM: FHFA: DeMarco Announces DeLeo to Oversee DeGSE's Strategic Plans 2:02 PM: Fannie 3.5's Regain The 105 Handle as Risk Reverses Course 12:25 PM: MBS Fall Back To AM Levels; Negative Reprice Risk? Really? 10:03 AM: Freddie Mac: 15-Year Fixed Rate Mortgage Falls Below 3% 9:50 AM: ECON: Chicago Purchasing Managers Index Weaker Than Expected 9:31 AM: Bond Markets Open Flat; Turn Stronger Following Data »View All Micro News Around the Web ResCap Unsecured Creditors May Fight Quick Sale, Lawyer Says FHA Foreclosures Jump 73 Percent in April - Bloomberg Huge Spike in Foreclosures With Loans Backed by US FHFA Announces Appointment to Coordinate the Strategic Plan for Fannie Mae and Freddie Mac Conservatorships PIMCO's Gross warns of economic "breaking point" Wells Fargo Lending Discrimination Case Seen Possible by US »View More Around the Web Video News Rep. Paul Ryan on Fixing the Fiscal Cliff High-End Real Estate In Manhattan Bair on CFTC Volcker Rule Meeting, JPMorgan »View More Video News Today's Comments "Forgive me... "POST CRISIS... my ass... the crisis has been ongoing for some five years... Dr. Shiller and Mr. Case still do not "get it"..." "Fundamentals haven't changed and won't soon, but the Fed's intervention in the securities markets (Operation Twist) is scheduled to end in..." "I find this post slightly amusing actually. There is nothing unconstitutional or illegal about requiring fingerprints for a position (verified by 2 constitutional..." »View More Comments Today's Q&A "Can a conventional loan be refinanaced into a VA loan?" " Can I get a mortgage to purchase a home?" "Can a loan officer be employed by two or more brokes in arizona?" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.78 -0.03 15YR 3.06 -0.03 FHA30YR 3.70 -0.02 Jumbo30YR 4.08 -0.03 5/1ARM 3.00 -0.02 MBS Quotes 30YR FNMA 3 105-01 0-08 30YR FNMA 4 106-16 0-05 30YR FNMA 4 107-09 0-01 30YR FNMA 5 108-10 -0-02 Treasuries 2 YR 0.2657 -0.0043 3 YR 0.3458 -0.0182 5 YR 0.6568 -0.0332 7 YR 1.0137 -0.0443 10 YR 1.5628 -0.0562 30 YR 2.6406 -0.0724 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Mortgage Rates Reluctantly Lower Despite Plummeting Treasuries

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May 30, 2012 3:17PM Mortgage Rates Reluctantly Lower Despite Plummeting Treasuries Mortgage Rates improved only slightly today despite an aggressive interest rate drop in the broader bond markets. Lenders' rate sheet offerings are CLOSE but not quite back to their May 17-18 levels which were the best on record. Best-Execution rate for 30yr Fixed Conventional loans was unchanged at 3.75% with the variations in rates vs yesterday being seen in the form of lower closing costs (or higher lender credits, depending on your scenario). (Read More: What is A Best-Execution Mortgage Rate... May 30, 2012 11:13AM David Stevens Leaves MBA to Take Position as President of SunTrust Mortgage Only slightly more than a year after joining the Mortgage Bankers Association as its President and CEO, David Stevens will leave to become President of SunTrust Mortgage, Inc . Stevens will join SunTrust effective July 16 and will be responsible for day-to-day business operations of the company. His new position will report to the bank's CEO Jerome Lienhard. In announcing the departure of Stevens, MBA said it has already begun a search for his replacement. In the interim, Marcia M. Davies , MBA's... MBS RECAP: New Record Levels For MBS And Treasuries Organizations React to CFPB Compensation Proposals; MBA's Revised 2012 Estimates; QM Update; 10-yr Hits 1.68% CoreLogic Reports 66,000 Foreclosures in April, Down 15.4% YoY MBS MID-DAY: Clawing At All-Time Highs While Treasuries Have It Easy Pending Sales Break 3-Month Winning Streak MBA: Mortgage Applications Fall as Rates Reach New Historic Lows View: Front Page | Headline Viewer Micro News 2:43 PM: Ongoing Potential, But Limited Incentive For Positive Reprices 11:57 AM: Pain Trade Continues Grinding Yields Lower, MBS Ground Into Ceiling 10:14 AM: MBA Announces David H. Stevens to Leave Association 10:12 AM: SunTrust Names Mortgage Industry Veteran David Stevens to New Role as President 10:00 AM: NAR: Pending Home Decline in April but Up Strongly From a Year Ago 9:14 AM: EU Events Catalyze Big Rally Overnight, Holding For Now 8:08 AM: MBA: Mortgage Applications Fall 1.3% 8:07 AM: MBA: Mortgage Rates Drop to New Survey Lows »View All Micro News Around the Web Importance of Home Prices Goes Beyond Housing Rosengren: The Economic Outlook and Its Policy Implications Fed's Dudley: U.S. banks in better crisis shape Senators Begich, McCain Call for Transparency and Responsibility in Fannie / Feddie Executive Compensation Maryland Attorney General Outlines Plans for $60 Million from Mortgage Settlement Funds Fannie, Freddie easy prey for cash-hungry Congress »View More Around the Web Video News The Fed's Role in the US Markets Homebuyer Interest In Foreclosures Jumped Al Lewis: Banks Can Default, But Customer Can't »View More Video News Today's Comments "Forgive me... "POST CRISIS... my ass... the crisis has been ongoing for some five years... Dr. Shiller and Mr. Case still do not "get it"..." "Fundamentals haven't changed and won't soon, but the Fed's intervention in the securities markets (Operation Twist) is scheduled to end in..." "I find this post slightly amusing actually. There is nothing unconstitutional or illegal about requiring fingerprints for a position (verified by 2 constitutional..." »View More Comments Today's Q&A "Can a loan officer be employed by two or more brokes in arizona?" "Can I have a co-signer when I refinance to get someone else's name off a mortgage?" "Is my name on a mortgage" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.81 -0.01 15YR 3.09 -0.01 FHA30YR 3.72 -0.01 Jumbo30YR 4.11 -0.02 5/1ARM 3.02 0.00 MBS Quotes 30YR FNMA 3 104-25 0-16 30YR FNMA 4 106-12 0-10 30YR FNMA 4 107-08 0-05 30YR FNMA 5 108-12 0-03 Treasuries 2 YR 0.2696 -0.0194 3 YR 0.3643 -0.0477 5 YR 0.6903 -0.0867 7 YR 1.0577 -0.1253 10 YR 1.6186 -0.1294 30 YR 2.7130 -0.1410 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Fannie and Freddie: "Where the Money Went"

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May 24, 2012 11:51AM Fannie and Freddie: "Where the Money Went." As part of its semi-annual report to Congress , the Federal Housing Finance Agency's (FHFA) Office of the Inspector General (OIG) included a section detailing, in financial terms, the fall of the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac which were placed under FHFA conservatorship in September 2008. The GSEs' fall was both swift and devastating so it is helpful to see, in one place, the numbers and the time-line underlying their implosion. Background The GSEs' historic... May 25, 2012 12:47PM Mortgage Rates Reverse Course Every Day This Week, But Stay Near Lows Mortgage Rates continue to experience minor volatility near all-time lows, bouncing moderately LOWER today after moving HIGHER yesterday. Rates moved in a different direction every day this week! Today's moves didn't take rates to the lowest recent levels, but did slightly improve borrowing costs for the prevailing rates. The Best-Execution Rate for Conventional 30yr Fixed Loans remains at 3.75%, but closing costs would be slightly lower for that rate today vs yesterday (or the amount of lender credit... MBS RECAP: Uneventful Session, MARKETS CLOSED MONDAY Federal Reserve Releases Action Plans for Two Loan Servicers MBS MID-DAY: Dying Down Ahead Of Long Weekend The Day Ahead: 2pm Bond Market Close And 2 Flavors Of Consumer Sentiment MBA Hikes 2012 Origination Forecast by $200 Billion RMBS Investigators Announce Website, Coordination Team View: Front Page | Headline Viewer Micro News 11:40 AM: Mid-Day Commentary and a Chart of the Catalonia Effect 10:05 AM: ECON: Consumer Sentiment Highest Since 2007 9:10 AM: Bond Markets Open Flat, But Move Stronger on Spain Headline 1:15 PM: MBS Steady Near Their "Least Bad" Levels After 7yr Auction 10:25 AM: MBA Increases Originations Estimate for 2012 by Almost $200 Billion 10:06 AM: Freddie Mac: Mortgage Rates Steady at Historic Lows 9:09 AM: Bond Markets Looking For Support After Opening Slightly Weaker 8:38 AM: ECON: Durable Goods Rise Less Than Expected »View All Micro News Around the Web April Phoenix Area Home Sale Press Release Wells Hands Over Mortgage Records NY Fed: Robust Capital Regulation Under Pressure, FHA Skews to Wealthier Home Buyers Where Other Banks Fail, Regions are Succeeding: Bove BofA May Turn Profit on Mortgage Buybacks, Credit Suisse Says »View More Around the Web Video News Five Straight Summers of Crisis Santelli on Low Hanging 'Job' Fruit Santelli's Morning Bond Report »View More Video News Today's Comments "We are in the Dark Ages of mortgage lending. Appraisals are alchemy, and the underwriting process is the Spanish Inquisition." "Possible? Yes. That's the easy question. The tough question is the one concerning "probable." Harder to know, and I'm not sure anyone..." "The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..." »View More Comments Today's Q&A »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.82 -0.01 15YR 3.09 -0.01 FHA30YR 3.73 -0.01 Jumbo30YR 4.12 -0.01 5/1ARM 3.03 0.00 MBS Quotes 30YR FNMA 3 104-11 0-05 30YR FNMA 4 106-03 0-04 30YR FNMA 4 107-03 0-04 30YR FNMA 5 108-10 0-04 Treasuries 2 YR 0.2931 -0.0079 3 YR 0.4094 -0.0126 5 YR 0.7622 -0.0238 7 YR 1.1786 -0.0204 10 YR 1.7465 -0.0365 30 YR 2.8489 -0.0271 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Mortgage Application 9.18% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031