Daily Newsletter: Cliff Deal Pressures Mortgage Rates; Shadow Inventory; To be Frank

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30 Year Fixed 3.43%   +0.02 15 Year Fixed 2.78%   +0.02 10YR Treasury 1.84%   +0.0000 FNMA 30YR 3.5 106.48   0.00 FNMA 15YR 2.5 105.53   0.00 View Today's Rates

Wednesday January 2, 2013 Mortgage Rate Watch - 2:48PM Mortgage Rates Pressured Higher After Fiscal Cliff Deal Mortgage rates moved to their highest levels since December 19th this morning after Congress passed a last-minute bill softening the blow of the Fiscal Cliff. The legislation has been ... MND NewsWire - 12:12PM Shadow Inventory Decline Continues, Currently at 7.2 Month Supply The residential shadow inventory of distressed homes continues to shrink according CoreLogic's monthly report for October. The improvement is across all metrics; number of units, months ... Pipeline Press - 11:17AM NAR Weighs in on Cliff Deal; M&A and Concentration in Banking - Could Lenders Share Back Office Functions? On this Wednesday that seems like a Monday, politicians in Washington celebrated after kind of averting a completely unnecessary crisis that was entirely of its own creation. One blog ... Community Commentary - 4:08PM To be Frank: The Gift That Keeps on Giving One of my favorite movies this time of year is Christmas Vacation. Being a multiple year winner of neighborhood light contests, I am inspired by the auxiliary nuclear power supporting ... MBS RECAP: Holding Ground Fairly Well Against Post-Cliff-Deal Weakness Mortgage Jobs Heading into 2013; Several States' Minimum Wages to Rise Tomorrow; Agency and Investor Updates Continue Another Multi-Billion Dollar Foreclosure Abuse Settlement Likely Consumer Loan Defaults Hit New Lows while Mortgage Defaults Rise MBA, Others Weigh in on LO Training and Licensing; In Conjunction with States, the CFPB Flexes its Muscles Mortgage Forgiveness Act in Jeopardy? Hiring and Retaining Employees the CFPB Way Latest Video Housing Higher on 'Fiscal Cliff' Agreement Santelli's Midday Bond Report Bill Gross Reacts to Tax Deal More News from 'Around the Web' CNBC - 4:10PM 'Cliff' Deal Does Not Mean 'Meaningful Improvement' in US Debt Ratio: Moody's The Big Picture - 12:31PM Long Interest Rates, 1790 to Present Bloomberg - 2:17PM OCC Says Almost 500000 Seek Reviews of Foreclosures www.aia.org - 11:56AM Architects Issue Statement on "Fiscal Cliff" Vote NY Fed - 12:20PM Why Isn't the Thirty-Year Fixed-Rate Mortgage at 2.6 Percent? Realtor.Org - 11:15AM Senate 'Cliff' Bill Retains Mortgage Cancellation Relief Reuters - 11:03AM Construction spending posts first decline in eight months The Big Picture - 8:39PM Shiller Remains Cautious on Housing Today's Comments Mortgage Rate Watch - 12:40AM "Locked a 15 year this PM at 2.75%. With rates this good, I'm hesitant to float as the potential for improvement, while there, is less than the potential for rates worsening...." Pipeline Press - 4:14PM "I don't see them requiring bank LO's to pass licensing tests. The biggest banks have way too many personal bankers selling 1st lien portfolio loans. In large these employees do not have much experience in mortgage and offer these loans, along with the traditional assortment of checking, savings, and..." Mortgage Rate Watch - 11:50PM "MG!!!..." Mortgage Rate Watch - 5:04PM "From what I've seen, pricing on loans I looked at improved today. Not taking that for granted as any perceived progress on fiscal cliff has the ability to worsen pricing, even if it's something as seemingly inconsequential as a press conference. Locking them as they come in, don't want to gamble with..." Recent Q & A "Can LO commissions be returned? " "I haven't paid my second mortg in over 3yrs. Will it be off credit in 7 yrs?" "3 unit jumbo non owner purchase, $900,000 on the loan, 70 LTV,Strong borrower. Who will consider? " Today's Rates Best Execution Rate Change 30 Yr FRM 3.43% +0.02 15 Yr FRM 2.78% +0.02 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.63% +0.02 5/1 Yr ARM 2.96% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.81% 1.00 -0.10 30 Yr. Fixed 3.54% 1.24 -0.08 MBA ** 30 Yr. Fixed 3.50% 0.44 +0.03 15 Yr. Fixed 2.83% 0.26 -0.02 30 Yr. Jumbo 3.73% 0.29 -0.04 30 Yr. FHA 3.34% 0.54 +0.02 5/1 ARM 2.61% 0.36 -0.02 Freddie Mac ** 30 Yr. Fixed 3.35% 0.70 -0.02 15 Yr. Fixed 2.65% 0.70 +0.00 1 Yr. ARM 2.56% 0.50 +0.04 5/1 Yr. ARM 2.70% 0.70 -0.01 Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. Secondary Markets MBS Price Change 30YR FNMA 3.0 104.61 0.00 30YR FNMA 3.5 106.48 0.00 30YR GNMA 3.0 106.08 0.00 30YR GNMA 3.5 108.50 0.00 15YR FNMA 3.0 105.53 0.00 15YR FNMA 2.5 104.48 0.00 Treasuries Yield Change 2 YR 0.2588% +0.0000 5 YR 0.7660% +0.0000 10 YR 1.8353% +0.0000 30 YR 3.0427% +0.0000 Prices as of: 1/2/2013 4:31PM EST Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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