Daily Newsletter: Rates Lower After Bernanke; Housing Starts Stall; Refi Demand at 2yr Low; Cordray Confirmed

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30 Year Fixed 4.41%   -0.04 15 Year Fixed 3.63%   -0.03 10YR Treasury 2.49%   -0.0391 FNMA 30YR 3.5 101.11   +0.36 FNMA 15YR 2.5 102.75   +0.22 View Today's Rates

Wednesday July 17, 2013 Mortgage Rate Watch - 4:54PM Mortgage Rates Lower After Bernanke Testimony Mortgage rates improved moderately today, making it back to levels not seen since July 3rd. That makes today something of a symbolic victory as July 3rd was the last trading day before ... MND NewsWire - 10:31AM Residential Construction Data Belies Recent Enthusiasm Building permits and housing starts both declined in June according to data released this morning by the U.S. Census Bureau and the Department of Housing and Urban Development. At the ... MND NewsWire - 9:16AM Refi Demand Falls to 2-yr Lows, Dragging Down MBA Survey Purchase applications shored up application volume during the week ended July 12 after four straight weeks of decline. Refinancing activity continued to react to increased rates and ... MND NewsWire - 9:21AM Cordray Confirmed Under Senate Filibuster Agreement After months of delay the Senate voted Tuesday evening to confirm Richard Cordray as the first director of the Consumer Financial Protection Bureau (CFPB). Cordray had been serving ... MBS RECAP: Gains Mostly Maintained Despite Mid-Day Fade Secondary P&L Volatility; Builder Confidence 7-yr High; Cole Taylor up for Grabs? Early Evidence of Rates Hitting Home Sales More Than Prices "Taper Talk" Hurts, But Not Enough to Stall Recovery - Freddie Mac Rate Increases More Likely to Impact Sales than Home Prices Builder Sentiment Beats Expectations Hitting Another 7-Year High Cash Sales Saved Housing Market -CoreLogic Wells' Expansion into Real Estate; Non-bank Servicer Growth; RESPA and Affiliate Relationships Latest Video When Bernanke speaks the markets move Bernanke: 'Strong housing market' is engine of economic recovery Bernanke defends Fed's accommodative policy More News from 'Around the Web' Reuters - 4:45PM Bernanke hearing turns into eulogy over his tenure at Fed DataQuick - 3:33PM June Southland Home Sales Press Release WSJ - 3:30PM How Far Should Fed Go to Pop Potential Bubbles? Bloomberg - 3:28PM Ben Bernanke's Quixotic Quest for Clarity - Bloomberg CNBC - 3:24PM Fed's Beige Book: Overall economy increases at a 'modest to moderate pace' CNBC - 3:23PM Fed's Bernanke Gets What He Wants: A Big Yawn WSJ - 1:23PM Bernanke: Broad Support on FOMC for 7% Jobless Rate Guidepost on QE economix.blogs.nytimes.com - 1:19PM Economix Blog: Further Progress on Housing Finance CNBC - 1:16PM Housing starts stall, optimism doesn't www.whitehouse.gov - 12:59PM Remarks by the President on the Confirmation of Richard Cordray as Director for CFPB CNBC - 10:44AM Tough questions await Bernanke in last hurrah CNBC - 9:49AM UK gets austerity 'reality check' after latest fiscal report CNBC - 9:02AM Bernanke: Fed to begin tapering later this year Reuters - 9:02AM Housing starts fall to ten-month low Reuters - 8:19AM Morgan Stanley must face part of MetLife MBS fraud case Reuters - 8:19AM Facing lawmakers, Bernanke to walk a fine line on Fed policy Bloomberg - 8:18AM Eminent Domain Plan Decried by DoubleLine Sees New Life Reuters - 8:17AM Futures flat with Bernanke testimony on tap CNBC - 8:17AM High Rates Douse Mortgage App Demand CNBC - 8:14AM Bank of America earnings 32 cents a share vs. 25 cents estimate Today's Comments MBS Live Chat - 1:56PM "REPRICE : 1:56 PM - NYCB Worse..." MBS Live Chat - 2:05PM "REPRICE : 2:05 PM - Everett Financial Worse..." MBS Live Chat - 2:06PM "REPRICE : 2:06 PM - Great Western Bank Worse..." MBS Live Chat - 2:09PM "REPRICE : 2:09 PM - Sun West Mortgage Worse..." Mortgage Rate Watch - 3:20PM "Thanks Mattew. Keeping my fingers crossed on the July meeting. Can't go back on the newhome that is scheduled to be completed in Dec...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.41% -0.04 15 Yr FRM 3.63% -0.03 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.50% -0.05 5/1 Yr ARM 3.25% -0.03 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.80% 1.17 -0.23 30 Yr. Fixed 3.58% 1.37 -0.19 MBA ** 30 Yr. Fixed 4.68% 0.46 +0.10 15 Yr. Fixed 3.76% 0.41 +0.12 30 Yr. Jumbo 4.86% 0.37 +0.18 30 Yr. FHA 4.37% 0.39 +0.10 5/1 ARM 3.40% 0.54 +0.07 Freddie Mac ** 30 Yr. Fixed 4.51% 0.80 +0.22 15 Yr. Fixed 3.53% 0.80 +0.14 1 Yr. ARM 2.66% 0.50 +0.00 5/1 Yr. ARM 3.26% 0.70 +0.16 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 97.44 +0.44 30YR FNMA 3.5 101.11 +0.36 30YR GNMA 3.0 98.27 +0.16 30YR GNMA 3.5 101.95 +0.17 15YR FNMA 3.0 102.75 +0.22 15YR FNMA 2.5 99.97 +0.17 Treasuries Yield Change 2 YR 0.3067% -0.0161 5 YR 1.3128% -0.0589 10 YR 2.4907% -0.0391 30 YR 3.5780% -0.0009 Prices as of: 7/17/2013 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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