Thursday, May 30, 2013

Daily Newsletter: Modification Programs Extended Through 2015; Pending Sales Inch Higher; REO Sales Keep Falling; Rental Market Topping Out?

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30 Year Fixed
3.94%   -0.04
15 Year Fixed
3.09%   -0.03
10YR Treasury
2.12%   +0.0019
FNMA 30YR 3.5
103.95   +0.08
FNMA 15YR 2.5
104.19   +0.08
Thursday May 30, 2013
MND NewsWire - 11:03AM
Pending home sales in April rose a slight 0.3 percent to 106.0 on the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI). In March the index was at 105.7. The ...
MND NewsWire - 11:15AM
The Obama Administration has extended its Making Home Affordable (MHA) program through December 2015. The action, taken Thursday brings that program into line with new expiration dates ...
MND NewsWire - 2:03PM
The Multifamily Production Index (MPI) compiled by the National Association of Home Builders continued in positive territory for the fifth straight time in the first quarter of 2013 ...
MND NewsWire - 10:10AM
Foreclosure-related home sales retreated to a 21 percent share of all homes sales in the country during the first quarter of 2013. RealtyTrac reported that a total of 190,121 houses ...
MBS Commentary - 1:10AM
"Nicely done MG and I'm feeling the same way...."
MND NewsWire - 10:27AM
"No wonder median sales prices are up throughout the country. If you remove/minimize distressed sales, average prices will rise dramatically, even if non-distressed sales prices remain constant...."
MBS Live Chat - 1:33PM
"Sung - i have a file with WF - prior approval - they are requiring it even though its only reserves... it might be lender specific..."
MBS Live Chat - 1:33PM
"it's investor specific.. suntrust asks..."
MBS Live Chat - 1:34PM
"pmac, wf typically dont on the correspondent side..."
MBS Live Chat - 1:35PM
"mh - WF will do prior-approval on conforming stuff for you?..."
MBS Live Chat - 1:35PM
"it may have been HomePath overlay..."
MBS Live Chat - 1:37PM
"ah... here is the DU/DO message which triggers some to ask for terms of withdrawal "If the account allows for withdrawals only in connection with the borrower's employment termination, retirement, or death; or the account does not allow for any type of withdrawal, the retirement asset should not be entered..."
MBS Live Chat - 1:43PM
"it is not investor specific. The DU calls for it on non harp deals...."
MBS Live Chat - 1:43PM
"if you don't need the reserves they are probably taking it out or they are a processor is going to get it and not telling you. It is 100% a Fannie thing..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 3.94% -0.04
15 Yr FRM 3.09% -0.03
FHA 30 Year Fixed 3.50% -0.03
Jumbo 30 Year Fixed 4.16% -0.04
5/1 Yr ARM 2.91% -0.01
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.03% 0.84 +0.07
30 Yr. Fixed 3.77% 1.20 +0.03
MBA **
30 Yr. Fixed 3.90% 0.39 +0.12
15 Yr. Fixed 3.10% 0.30 +0.14
30 Yr. Jumbo 4.07% 0.27 +0.14
30 Yr. FHA 3.62% 0.27 +0.09
5/1 ARM 2.60% 0.24 +0.00
Freddie Mac **
30 Yr. Fixed 3.81% 0.80 +0.22
15 Yr. Fixed 2.98% 0.70 +0.21
1 Yr. ARM 2.54% 0.50 -0.01
5/1 Yr. ARM 2.66% 0.50 +0.03
* 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 3.0 100.97 +0.08
30YR FNMA 3.5 103.95 +0.08
30YR GNMA 3.0 102.22 +0.19
30YR GNMA 3.5 105.44 +0.14
15YR FNMA 3.0 104.19 +0.08
15YR FNMA 2.5 102.33 +0.09
Treasuries
Yield Change
2 YR 0.2970% +0.0000
5 YR 1.0129% +0.0225
10 YR 2.1172% +0.0019
30 YR 3.2808% +0.0165
Prices as of: 5/30/2013 4:30PM 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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