Monday, May 20, 2013

Daily Newsletter: Housing Recovery and Price Appreciation to Continue; Mortgage Rates Near 12-mo Highs; MBA Suggests New Approach To Risk-Sharing

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30 Year Fixed
3.70%   +0.02
15 Year Fixed
2.86%   +0.02
10YR Treasury
1.96%   +0.0106
FNMA 30YR 3.5
105.03   -0.08
FNMA 15YR 2.5
104.88   -0.06
Monday May 20, 2013
MND NewsWire - 1:31PM
Fannie Mae's economic and strategic research team today called the housing recovery "undeterred" after it contributed 0.3 percentages points to economic growth in the first quarter ...
MND NewsWire - 2:53PM
Maintaining that the conservatorships of Fannie Mae and Freddie Mac (the GSEs) have caused government involvement in the mortgage market to balloon to unhealthy proportions , the Mortgage ...
Mortgage Rate Watch - 3:56PM
Mortgage rates continued May's nearly constant trend higher to begin the week, though the pace of increases is slower compared to that seen on Friday. Even so, it brings rates dangerously ...
MND NewsWire - 12:49PM
Most risk professionals who participated in a recent survey believe the status quo is going to prevail when it comes to loan delinquencies over the next six months. In survey conducted ...
MND NewsWire - 7:35PM
"This article is ridiculous. We are all writing conventional loans right now with FICO's down to 680 or so, and we are writing FHA down to 640 - heck I can even broker FHA down to 580 so I don't know what this guy is talking about and neither does he...."
MND NewsWire - 9:55AM
"Ha ha, just closed a 642 mid-score 5% down conventional purchase. Even better, did not even have to send to MI company, my Underwriter issued a Clear to Close with an MI Cert she signed off on herself...."
MBS Live Chat - 1:35PM
"Clearly no one is paying attention to Mr Evans at the moment...."
MBS Live Chat - 1:36PM
"Agreed Ted....after all, much more important to listen to non-voting minority hawk than a voting majority dove...."
MBS Live Chat - 2:14PM
"REPRICE : 2:14 PM - Provident Funding Better..."
MBS Live Chat - 3:01PM
"REPRICE : 3:01 PM - Quicken Loans Wholesale Worse..."
MBS Live Chat - 3:12PM
"RTRS- EVANS:WOULD BE OPEN-MINDED ABOUT DISCUSSING ADJUSTMENTS TO PACE OF BOND BUYING AT THIS MEETING, OR NEXT, OR THE ONE AFTER..."
MBS Live Chat - 3:15PM
"Evans has consistently been the most dovish FOMC member when it comes to QE, and here he is saying he's open minded to discussing adjustments to the pace. If markets moved at all on these wires, it was barely noticeable. That seems to suggest markets are roughly in the position they wanted to be in to..."
MBS Live Chat - 3:17PM
"MG - to clarify.... tapering comments = status quo. consistent QE purchases through established benchmarks = rate improvements later in the week?..."
MBS Live Chat - 3:19PM
"I think something along those lines MH, yeah. Depending on the tone and the particulars, there's room for further weakness in bond markets, but if tapering talk is utterly absent or flat out dismissed, room for improvement...."
MBS Live Chat - 3:51PM
"REPRICE : 3:51 PM - Caliber Funding Worse..."
MBS Live Chat - 3:51PM
"that's the 2nd from Caliber..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 3.70% +0.02
15 Yr FRM 2.86% +0.02
FHA 30 Year Fixed 3.27% +0.02
Jumbo 30 Year Fixed 3.79% +0.02
5/1 Yr ARM 3.01% +0.01
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 2.78% 0.76 +0.08
30 Yr. Fixed 3.53% 1.11 +0.06
MBA **
30 Yr. Fixed 3.67% 0.41 +0.08
15 Yr. Fixed 2.88% 0.31 +0.07
30 Yr. Jumbo 3.87% 0.25 +0.08
30 Yr. FHA 3.43% 0.16 +0.08
5/1 ARM 2.55% 0.23 +0.02
Freddie Mac **
30 Yr. Fixed 3.51% 0.70 +0.09
15 Yr. Fixed 2.69% 0.70 +0.08
1 Yr. ARM 2.55% 0.40 +0.02
5/1 Yr. ARM 2.62% 0.50 +0.04
* 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 3.0 102.33 -0.16
30YR FNMA 3.5 105.03 -0.08
30YR GNMA 3.0 103.67 -0.23
30YR GNMA 3.5 106.97 -0.16
15YR FNMA 3.0 104.88 -0.06
15YR FNMA 2.5 103.30 -0.06
Treasuries
Yield Change
2 YR 0.2420% -0.0038
5 YR 0.8368% +0.0050
10 YR 1.9647% +0.0106
30 YR 3.1753% +0.0067
Prices as of: 5/20/2013 4:31PM EST
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.
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