Daily Newsletter: Home Prices Growing "Too Fast"; Worst 2 Days for Rates; MBA on Secondary Reform; Building Material Shortage

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30 Year Fixed 4.29%   +0.15 15 Year Fixed 3.48%   +0.12 10YR Treasury 2.42%   +0.0865 FNMA 30YR 3.5 101.47   -0.81 FNMA 15YR 2.5 103.05   -0.45 View Today's Rates

Thursday June 20, 2013 MND NewsWire - 12:03PM Home Prices Growing "Too Fast;" More Homebuilding Needed -NAR Sales of existing homes rose again in May and prices posted the biggest annual gain in eight years the National Association of Realtors® (NAR) said today. Total existing home sales ... Mortgage Rate Watch - 6:30PM Worst 2-Day Move For Mortgage Rates in 4 Years Mortgage rates are reprising past trauma, now matching the scope of the late 2010 sell-off, with the past two days matching the scope of Black Wednesday's sell-off. "Selling" in this ... MND NewsWire - 11:19AM GSE "Black Boxes" and Reps/Warrants Must Change - MBA The Mortgage Bankers Association released the fourth of five planned concept papers which recommend immediate steps the Federal Housing Finance Agency ( FHFA ) and Fannie Mae and Freddie ... MND NewsWire - 10:32AM Home Builders Report Significant Shortages in Key Building Materials Builders and suppliers are noting significant shortages of certain home building materials even though new home and other construction is described as far below normal levels. The National ... MBS MID-DAY: Revisiting Pre-Golden-Era Volatility Homeowners Vacate Many Properties Pre-Foreclosure Origination Report Notes Improving Closing Rates and Timing Differences Between Past and Current FOMC Statements Donovan, Attorneys General Comment on Settlement Monitor's Reports Servicers Struggling with National Mortgage Settlement Compliance Monitor Says Latest Video Rising Rates Will Not Impact Housing: Pro Mortgages: 'Don't Kill the Golden Goose' 'Taper-Tantrum' Overdone? More News from 'Around the Web' WSJ - 5:19PM Economists Think Markets' Taper Tantrum Is Temporary WSJ - 5:19PM Grading Bernanke on Communication Bloomberg - 5:18PM Gundlach Says Treasuries Will Be Best-Performing Asset - Bloomberg Reuters - 5:18PM Bernanke suddenly no friend to big bond funds www.aei.org - 3:48PM FHA Watch, June 2013 (Vol. 2, No. 6) The Huffington Post - 3:47PM Bank of America Whistleblowers Allege Rot at the Core of the Mortgage Industrial Complex The Huffington Post - 2:42PM Ray Brescia: Bank of America Whistleblowers Allege Rot at the Core of the Mortgage Industrial Complex CNBC - 2:38PM Who Wins and Loses From Fed Taper Talk? CNBC - 2:37PM Housing Fundamentals 'Rock-Solid': Pro CNBC - 2:37PM Boehner: Bernanke's Fed to Blame for Sell-Off Bloomberg - 2:37PM Fed Seen Tapering QE to $65 Billion at September FOMC Meeting - Bloomberg CNBC - 12:36PM Rising Home Prices Are 'Unsustainable'-Realtors CNBC - 12:05PM Market Seems to Have Lost Confidence in The Fed freddiemac.mwnewsroom.com - 10:13AM Freddie Mac: "Mortgage Rates Ease Slightly" CNBC - 10:07AM Existing Home Sales in May Jump 4.2 Percent, to 3.5-Year High Google News - 10:06AM NAR: Existing-Home Sales Rise in May with Strong Price Increases CNN - 9:49AM Fed exit fears rattle Wall Street SIFMA - 9:25AM SIFMA, AMI, GLVAR, NBA Regret North Las Vegas Vote on Eminent Domain Bloomberg - 8:24AM Bernanke Faith in Housing Seen in Mortgage Bonds www.aei.org - 8:11AM Pinto discusses the future of Fannie & Freddie Today's Comments Mortgage Rate Watch - 11:18AM "Yeah, John John.. what planet are you on?..." Mortgage Rate Watch - 11:36AM "This is really a great article, thanks. We'll see how things go from here in the next few weeks. As a FTHB I've been frustrated by panic buys pushing up prices this summer, I am counting on the off-season in the Northeast to get more reasonable prices despite higher rates. My estimate is that housing..." Mortgage Rate Watch - 12:03PM "Julius you have to keep in mind the overall increased cost to you as a result of higher rates. P&I on a 225k loan at 4% is $1074. To get that same P&I payment at 5% you can only borrow 200k. In effect you could have bought the same house for 25k less and still not come out ahead due to the higher rate..." Mortgage Rate Watch - 1:54PM "Well written, and shared across my blog / sm world!..." MBS Live Chat - 1:40PM "REPRICE : 1:40 PM - 360 Mortgage Worse..." MBS Live Chat - 1:41PM "REPRICE : 1:41 PM - Provident Funding Worse..." MBS Live Chat - 1:41PM "REPRICE : 1:41 PM - Stearns Lending Worse..." MBS Live Chat - 2:03PM "MG - if we break above this morning's highs....is it just going to run wild? Or is there some fight in the above 2.45 level on the 10 year?..." MBS Live Chat - 2:06PM "It's a messy, confused range for Treasuries. Very scary, very shaky. A lot of discomfort brought on by the fact that we're above 2.40 and have limited technical precedent. Volatility is extreme. I don't think we can rule anything out just yet, but I think most are hoping to consolidate here with bigger..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.29% +0.15 15 Yr FRM 3.48% +0.12 FHA 30 Year Fixed 3.97% +0.14 Jumbo 30 Year Fixed 4.35% +0.10 5/1 Yr ARM 3.02% +0.07 Current Mortgage Rates » What are best-execution rates? 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 4.17% 0.41 +0.02 15 Yr. Fixed 3.30% 0.39 -0.02 30 Yr. Jumbo 4.23% 0.34 -0.02 30 Yr. FHA 3.85% 0.22 +0.04 5/1 ARM 2.81% 0.35 +0.03 Freddie Mac ** 30 Yr. Fixed 3.93% 0.80 -0.05 15 Yr. Fixed 3.04% 0.70 -0.06 1 Yr. ARM 2.57% 0.40 -0.01 5/1 Yr. ARM 2.79% 0.50 +0.00 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 98.05 -0.86 30YR FNMA 3.5 101.47 -0.81 30YR GNMA 3.0 98.94 -1.17 30YR GNMA 3.5 102.30 -1.11 15YR FNMA 3.0 103.05 -0.45 15YR FNMA 2.5 100.36 -0.59 Treasuries Yield Change 2 YR 0.3307% +0.0202 5 YR 1.3078% +0.0677 10 YR 2.4227% +0.0865 30 YR 3.5156% +0.1091 Prices as of: 6/20/2013 4:30PM 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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