Daily Newsletter: Rising Rates ARE Hurting Purchase Demand; More Lawsuits Against GSEs; MBA Concerned With FHFA's Handling of Plan; Rates Rise After Fed

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30 Year Fixed 4.63%   +0.08 15 Year Fixed 3.79%   +0.06 10YR Treasury 2.68%   +0.0439 FNMA 30YR 3.5 99.61   -0.56 FNMA 15YR 2.5 101.95   -0.31 View Today's Rates

Wednesday July 10, 2013 MND NewsWire - 8:51AM Rising Rates Taking Consistent Toll on Purchase Demand Mortgage application activity continued to slide last week , down 4 percent on a seasonally adjusted basis from the week before, the fourth straight week the Mortgage Bankers Association ... MND NewsWire - 4:19PM Lawsuits Mount as Investors Claim U.S. Overreached with GSEs A number of investors have filed suit in two different courts against the U.S. Government over its management of Freddie Mac and Fannie Mae (the GSEs). On Sunday a group led by Perry ... MND NewsWire - 4:23PM MBA Highlights Growing Concerns Over FHFA's Execution of Securitization Plan The Mortgage Bankers Association (MBA) has released the fifth and last in a series of concept papers outlining its suggestions for immediate steps Freddie Mac, Fannie Mae (the GSEs ... Mortgage Rate Watch - 7:22PM Mortgage Rates Rise After Fed Minutes; Silver Lining Mortgage rates moved higher today, taking them back in line with Monday's offerings on average. The weakness came in two stages. The first round of volatility in the Secondary Mortgage ... Efforts to Lower costs Continue; Nomura to Roll Out Non-Agency Security MBS RECAP: Weaker During Day, Overnight Rally In Progress Latest Video Bernanke: 'More Needs to be Done' Reaction to the Fed Minutes Mortgage Interest Deduction Important? More News from 'Around the Web' Bloomberg - 6:51PM US Bank Takeovers Will Probably Accelerate, Fitch Says - Bloomberg Reuters - 6:50PM Fed split in June on QE timing; Bernanke sees easy policy for now CNBC - 5:18PM Bernanke: Here's the Fed's Top Goal Bloomberg - 5:18PM Regulators See Dodd-Frank Substantially Complete by End of Year Washington Post - 5:18PM Fed leaders knew they were blowing it at their last meeting, and other tidbits from the FOMC minutes Federal Reserve - 5:16PM Bernanke, A Century of U.S. Central Banking: Goals, Frameworks, Accountability blog.hud.gov - 5:13PM Four Year of Sustainability Progress, But Much More to Do FHFA - 3:40PM Agencies Issue Proposed Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements CNBC - 2:16PM Fed Officials Showed Worry About Easing Policy CNBC - 2:07PM Investors Buy 'Lotto Ticket' With Bet on Fannie, Freddie CNBC - 2:07PM Fed Minutes: Some Participants Felt Fed Will Need to Explain QE Exit Relatively Soon CNBC - 2:07PM Fast Rising Mortgage Rates Are Dire For Housing Federal Reserve - 2:07PM Minutes of the Federal Open Market Committee, June 18-19, 2013 Bloomberg - 11:48AM Fed Skeptics' Latest Bugaboo: 'Instability' CNBC - 10:40AM Wholesale Inventories Post Surprise Drop Bloomberg - 10:40AM McGraw Hill Sued by Bear Stearns Fund Liquidators for $1 Billion - Bloomberg Bloomberg - 9:32AM Fairholme Funds Sues U.S. for Fannie Mae Profit Reuters - 9:32AM Fed Chairman Bernanke should not testify in AIG bailout lawsuit: U.S. Bloomberg - 9:29AM Ex-Citigroup Chairman Says Banks Probably Need Capital CNBC - 8:40AM Treasurys Flat as Traders Watch for Fed, Bernanke Today's Comments MBS Live Chat - 4:44PM "RTRS - BERNANKE SAYS CURRENT UNEMPLOYMENT RATE OF 7.6 PERCENT IF ANYTHING OVERSTATES HEALTH OF US LABOR MARKET..." MBS Live Chat - 4:46PM "RTRS- BERNANKE SAYS INFLATION IS LOW, US FISCAL POLICY IS QUITE RESTRICTIVE, HIGHLY ACCOMMODATIVE MONETARY POLICY NEEDED FOR FORSEEABLE FUTURE..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.63% +0.08 15 Yr FRM 3.79% +0.06 FHA 30 Year Fixed 4.47% +0.08 Jumbo 30 Year Fixed 4.70% +0.05 5/1 Yr ARM 3.37% +0.19 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 4.29% 0.70 -0.17 15 Yr. Fixed 3.39% 0.70 -0.11 1 Yr. ARM 2.66% 0.40 +0.00 5/1 Yr. ARM 3.10% 0.70 +0.02 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 95.67 -0.52 30YR FNMA 3.5 99.61 -0.56 30YR GNMA 3.0 96.47 -0.72 30YR GNMA 3.5 100.45 -0.67 15YR FNMA 3.0 101.95 -0.31 15YR FNMA 2.5 98.91 -0.39 Treasuries Yield Change 2 YR 0.3710% +0.0000 5 YR 1.5273% +0.0313 10 YR 2.6816% +0.0439 30 YR 3.6880% +0.0413 Prices as of: 7/10/2013 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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