Daily Newsletter: Volatility Ahead for Rates; NAHB Defends Mortgage Interest Deduction; Not All G-Fees Equal; Real Reasons For This Week's Market Movement

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30 Year Fixed 4.44%   -0.04 15 Year Fixed 3.64%   -0.02 10YR Treasury 2.57%   -0.0069 FNMA 30YR 3.5 100.88   +0.06 FNMA 15YR 2.5 102.70   +0.11 View Today's Rates

Friday July 26, 2013 Mortgage Rate Watch - 5:25PM Mortgage Rates Consolidate; Volatility Ahead Mortgage rates improved today , capitalizing on friendly market movements that arrived too late in yesterday's session to make it onto rate sheets in any meaningful way. While lenders ... MND NewsWire - 10:52AM NAHB Rebuts Arguments for Repeal of MID The cost, efficacy and fairness of the mortgage interest deduction ( MID ) are part of nearly every discussion in Washington about the tax code, housing policy, or the budget and there ... MND NewsWire - 2:10PM Smaller G-Fees for Riskier Loans and Bigger Lenders Last week the Office of Inspector General (OIG) of the Federal Housing Finance Agency (FHFA) issued a report on FHFA's initiative to use guarantee fees charged by Fannie Mae and Freddie ... MBS Commentary - 4:55PM MBS RECAP: Uneventful End to Uneventful Week MBS Live : MBS Afternoon Market Summary Let's be realistic about markets--bond markets anyway. Nothing happened this week. Of course "nothing" sounds a bit dramatic, so let's qualify ... UBS Settlement; Bank Lending Trend; Wells Out of JVs - No Big Deal? Do's and Don't's For a Smooth Mortgage Process: Part 8 Freddie Mac's Total Portfolio Ticked up in June QRM Rules May Change; Multiple Agencies Working on Proposal New Freddie Mac Debt Notes to Transfer Risk to Private Sector Huge Spike in Delinquency Rate After 5 Months of Improvements LO Comp Plans, 3 Percent QM Cap & LLPAs Longer Term Investors Outnumber Flippers 2 to 1 in California Latest Video The Week Ahead: Home sweet home? Adding value to your home Fed fight: Yellen or Summers? More News from 'Around the Web' CNBC - 5:16PM GMAC Mortgage to pay borrowers Market Watch - 5:16PM Summers consulting for Citigroup, Nasdaq: report Washington Post - 5:16PM This is how people at the Fed are thinking about the race to be their boss Federal Reserve - 3:05PM Federal Reserve releases an amendment to the enforcement action against GMAC Mortgage Bloomberg - 2:15PM Synovus Repays $968 Million in TARP Bailout Funds to Treasury - Bloomberg Bloomberg - 12:17PM What's Hidden in Fannie, Freddie Settlements? - Bloomberg Reuters - 12:17PM Obama likely won't announce Fed chair pick until fall: official WSJ - 10:41AM IMF Urges More Clarity From Fed Market Watch - 10:37AM Short sale stigma helps home buyers Bloomberg - 10:37AM Wells Fargo to PepsiCo Lead $29.5 Billion of Bond Sales in US - Bloomberg CNBC - 10:35AM Rotation or not, investors surge into stock funds CNBC - 10:34AM Consumer sentiment jumps to six-year high in July www.corelogic.com - 9:27AM Bond Credit Quality Outlook Improves in First Quarter 2013 According to CoreLogic Bond Tracker CNBC - 9:13AM Fed meeting could see volatility return Washington Post - 9:13AM Wonkbook: A dark horse for Fed chair? Reuters - 8:04AM Opposition mounts to Summers as possible Fed chief Washington Post - 8:04AM Ex-Goldman trader on trial in mortgage scheme Reuters - 8:00AM Banks shiver as UBS swallows $885 million U.S. fine Today's Comments MBS Live Chat - 11:57AM "What is the likelihood of a 30 year fixed from Jan 2008 (originated with Washington Mutual) being a fannie or freddie? It is in a large complex and we have not had luck with the loan lookup tools...." MBS Live Chat - 12:02PM "WA Mu was big on option arms and those weren't agency products/harp eligible. Look up tool is usually pretty good...." MBS Live Chat - 12:11PM "Between loan lookup and running DU/LP, you should be able to find out. Might be a portfolio loan if it is with some of the bigger guys...." MBS Live Chat - 12:12PM "make sure that you have the right borrower on there, sometimes it was on or the other, or another borrower that is not going to be on this app. Had one where the wife assumed it after the husband died. Also, if the address has changed that might be a cause for the look up tool not to work...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.44% -0.04 15 Yr FRM 3.64% -0.02 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.51% -0.04 5/1 Yr ARM 3.24% +0.01 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 4.58% 0.40 -0.10 15 Yr. Fixed 3.63% 0.35 -0.07 30 Yr. Jumbo 4.66% 0.41 -0.15 30 Yr. FHA 4.28% 0.33 -0.10 5/1 ARM 3.30% 0.34 -0.09 Freddie Mac ** 30 Yr. Fixed 4.31% 0.80 -0.06 15 Yr. Fixed 3.39% 0.80 -0.02 1 Yr. ARM 2.65% 0.40 -0.01 5/1 Yr. ARM 3.16% 0.70 -0.01 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 97.02 +0.14 30YR FNMA 3.5 100.88 +0.06 30YR GNMA 3.0 98.06 +0.14 30YR GNMA 3.5 101.94 +0.02 15YR FNMA 3.0 102.70 +0.11 15YR FNMA 2.5 99.69 +0.09 Treasuries Yield Change 2 YR 0.3167% -0.0078 5 YR 1.3701% -0.0049 10 YR 2.5662% -0.0069 30 YR 3.6218% -0.0246 Prices as of: 7/26/2013 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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