Daily Newsletter: Industry Groups React to QM; One Third of US Homes Mortgage Free

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30 Year Fixed 3.46%   +0.00 15 Year Fixed 2.81%   +0.00 10YR Treasury 1.90%   +0.0389 FNMA 30YR 3.5 106.22   -0.09 FNMA 15YR 2.5 105.50   -0.03 View Today's Rates

Thursday January 10, 2013 MND NewsWire - 2:09PM Industry Groups React to QM Many industry groups have commented this morning on the final Qualified Mortgage/Ability to Repay rule issued today by the Consumer Financial Protection Bureau (CFPB). Most of the comments ... MND NewsWire - 7:51AM CFPB Releases Final Rule on Ability to Repay, Leaves Back Door Open on DTI The final rule to implement those parts of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act relating to consumers ability to repay home loans was released by the Consumer ... MND NewsWire - 10:09AM One-third of U.S. Residences Owned Mortgage-Free Despite the concern over the last few years about the number of homeowners who owe more on their mortgages than their homes are worth, it turns out that nearly one third of owner-occupied ... Mortgage Rate Watch - 4:36PM Mortgage Rates Essentially Unchanged Despite Weaker Bond Markets Mortgage rates leveled off on Thursday , after moving gently lower on the first three days of the week. Bond markets such as US Treasuries began the day in weaker territory due primarily ... MBS RECAP: ECB Takes Toll, Sideways From There Despite Auction-Related Head Fake 2012 On Pace to be Record Year for Housing Affordability Mortgage Application Volume Bounces Bank from Holiday Lull Real Estate Web Searches Climb 253% in Four Years as 90% of Homebuyers Use Internet as Primary Research List of Improving Housing Markets Reaches 242 in December New HUD Research Tool Offers a Wealth of Housing Data Latest Video CFPB Tightens Mortgage Lending Rules Pres. Obama to Nominate Lew as Treasury Secretary Neil Barofsky on Bank Capitalization, Regulation More News from 'Around the Web' The Huffington Post - 4:20PM Bank Made Huge Profit On Libor During Crisis: Report Business Week - 4:12PM Berkshire's Peltier Says Mortgage Rule Clears Loan Path Business Week - 4:11PM Banks prepare for earnings; mortgages cast a pall Bloomberg - 4:08PM Gross Raises Holdings of Treasuries to Highest Level Since July WSJ - 2:51PM Ten Questions on the New Mortgage Rules Business Week - 2:48PM FBI's Washington Office Hones in on Financial Fraud Cases CNBC - 2:45PM President Obama Officially Nominates Jack Lew as Secretary of Treasury CNBC - 9:10AM Danger in Declaring Euro Zone Victory Prematurely: S&P Today's Comments MBS Live Chat - 2:11PM "if rental income is recieved it's investment..." MBS Live Chat - 2:48PM "even if there is rental income on the Schedule E you can still count it as a second home. It only has to be made available for there use for 1 week out of the year. This is very typical for resort areas...I do it all of the time..." MBS Live Chat - 2:52PM "sometimes you can get around that if the borrower occupies at least two weeks per year, thats indicated on schedule E as fair rental days vs. personal use days. its a pain to do that so probably easier to do it straight investment..." MBS Live Chat - 2:52PM "•The property may not be leased or rented, or intended for lease or rental, other than on an occasional basis...." MBS Live Chat - 2:54PM "I always thought if it was rented for more than 2 weeks per yer the UW considered it investment...." MBS Live Chat - 2:58PM "our guides say borrower must occupy at least two weeks out of the year to be considered a second home..." MBS Live Chat - 2:58PM "i always thought you could rent out a second home as long as you used it for a couple weeks each year, and uw'ing was just being ulta conservative on underwriting..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.46% +0.00 15 Yr FRM 2.81% +0.00 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.67% +0.01 5/1 Yr ARM 2.98% +0.01 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 3.61% 0.41 +0.09 15 Yr. Fixed 2.88% 0.39 +0.02 30 Yr. Jumbo 3.78% 0.38 +0.03 30 Yr. FHA 3.35% 0.69 +0.01 5/1 ARM 2.64% 0.37 -0.01 Freddie Mac ** 30 Yr. Fixed 3.40% 0.70 +0.06 15 Yr. Fixed 2.66% 0.70 +0.02 1 Yr. ARM 2.60% 0.50 +0.03 5/1 Yr. ARM 2.67% 0.60 -0.04 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 3.0 104.38 -0.17 30YR FNMA 3.5 106.22 -0.09 30YR GNMA 3.0 105.41 -0.23 30YR GNMA 3.5 108.13 -0.08 15YR FNMA 3.0 105.50 -0.03 15YR FNMA 2.5 104.33 -0.11 Treasuries Yield Change 2 YR 0.2523% +0.0081 5 YR 0.7950% +0.0274 10 YR 1.8993% +0.0389 30 YR 3.0796% +0.0167 Prices as of: 1/10/2013 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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