| Thursday July 18, 2013 Mortgage Rate Watch - 5:14PM Mortgage rates rose modestly for the first time in 6 business days today. For most lenders, the movement was far from abrupt, and although it won't affect yesterday's quoted interest ... MND NewsWire - 12:45PM Reuters is reporting that the Senate Banking Committee has approved the nomination of Mel Watt to replace Edward J. DeMarco as director of the Federal Housing Finance Agency. Watt is ... MND NewsWire - 2:59PM The Office of Inspector General (OIG) of the Federal Housing Finance Agency (FHFA) has expressed some skepticism about FHFA's plans to gradually raise the guarantee fees (G-fees) of ... MND NewsWire - 12:04PM BB&T announced better than expected financial results on Thursday, with second quarter earnings coming in at 0.77 per share, .03 higher than estimates, and revenues of $2.5 billion ...  | "I read this headline and wondered what year Kelly King was referring to; thinking it could not possibly be current. Was I surprised! What planet is he on? Constantine and Matt already pointed out obvious arguments and I could not agree more with them both! Investor overlays are a constant concern and..." |  | "Could not agree MORE with Mr. Floropoulos and Mr. Hodges. Furthermore, IMO, if BB&T is a publicly traded company, it's shareholders should be concerned...." |  | "Guess BB&T's guidelines must be significantly different from the rest of the industry's. We've seen only a few credit "loosenings", and significantly more "tightenings". Overlays are rampant, so many it seems more like lenders are underwriting to portfolio loan guidelines than Fan/Fred/FHA's!..." |  | "I'm also in agreement with Mr. Hodges and Mr. Floropoulos with guidelines not actually loosening. The other problem, on top of tight guidelines, is that underwriters have had the ability to use common sense taken away, in fear that they may make a judgment call on something, and then the loan defaults..." |  | "Underwriting standards are a little tight and some loosening would be beneficial, but in my opinion they are about where they ought to be. The drastically improved quality of recent loans since the financial crisis is a good thing. That being said, the claim that standards have loosened too much too..." |  | "I personally believe that as rates increase you will start to see underwriting standards begin to loosen up...." | | | "Best headline of the month. Takes a lot of great minds to raise borrowers costs these days!..." | | | "Joe, are you saying that there is a correlation to rising rates and underwriting standards? What is the connection?..." | | | Today's Rates | 30 Yr FRM | 4.44% | +0.03 | | 15 Yr FRM | 3.65% | +0.02 | | FHA 30 Year Fixed | 4.25% | +0.00 | | Jumbo 30 Year Fixed | 4.53% | +0.03 | | 5/1 Yr ARM | 3.26% | +0.01 | | | Average Mortgage Rates | 15 Yr. Fixed | 2.80% | 1.17 | -0.23 | | 30 Yr. Fixed | 3.58% | 1.37 | -0.19 | | 30 Yr. Fixed | 4.68% | 0.42 | +0.00 | | 15 Yr. Fixed | 3.70% | 0.38 | -0.06 | | 30 Yr. Jumbo | 4.81% | 0.40 | -0.05 | | 30 Yr. FHA | 4.38% | 0.22 | +0.01 | | 5/1 ARM | 3.39% | 0.37 | -0.01 | | 30 Yr. Fixed | 4.37% | 0.70 | -0.14 | | 15 Yr. Fixed | 3.41% | 0.70 | -0.12 | | 1 Yr. ARM | 2.66% | 0.40 | +0.00 | | 5/1 Yr. ARM | 3.17% | 0.60 | -0.09 | * FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. | Secondary Markets | 30YR FNMA 3.0 | 97.05 | -0.39 | | 30YR FNMA 3.5 | 100.83 | -0.28 | | 30YR GNMA 3.0 | 98.09 | -0.17 | | 30YR GNMA 3.5 | 101.80 | -0.16 | | 15YR FNMA 3.0 | 102.52 | -0.23 | | 15YR FNMA 2.5 | 99.72 | -0.25 | | 2 YR | 0.3106% | +0.0039 | | 5 YR | 1.3324% | +0.0196 | | 10 YR | 2.5340% | +0.0433 | | 30 YR | 3.6338% | +0.0558 | | Prices as of: 7/18/2013 4:31PM EST | 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 | |
