Daily Newsletter: Cash Sales Surge; Distressed Sales Remain Elevated; Foreclosures Declining Quickly; Great Rotation at Risk?; Deciphering QRM

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30 Year Fixed 4.58%   -0.02 15 Year Fixed 3.69%   -0.01 10YR Treasury 2.77%   -0.0054 FNMA 30YR 3.5 99.81   +0.08 FNMA 15YR 2.5 102.13   +0.06 View Today's Rates

Thursday August 29, 2013 MND NewsWire - 11:37AM Cash Sales Surge; Distressed Sales Remain Elevated - RealtyTrac RealtyTrac, which has historically reported on the distressed home market, has now widened the focus of its U.S. Residential and Foreclosure Sales Report to a more general discussion ... MND NewsWire - 11:26AM Foreclosure Inventory Declining Quickly; Judicial States Still Skewing Data Completed foreclosures in July were down 25 percent from a year earlier CoreLogic said today. There were 49,000 completed foreclosures during the month compared to 53,000 in June, a ... MND NewsWire - 5:44PM Champion of the Great Rotation Warns of C.R.A.S.H. When Michael Harnett talks about long term strategy, markets listen. Why? He is Mr. " Great Rotation ," the strategy that--In October 2012--predicted that bond yields and stock prices ... Pipeline Press - 9:55AM What has 500 Pages, 3 letters, and What Does it All Mean? Affordability has a strong impact on homeownership. Not surprisingly, per the NRA, I mean the NAR, four of five states with the lowest homeownership rates in the US are characterized ... New Fed Data Reveals More About How Treasuries Stack up Mortgage Rates Change Course Mid-Day to End Lower MBS RECAP: Holding Gains on Slow Afternoon Freddie Mac's Portfolio Shrinks Again; Delinquencies Decline Latest Video Jobs more important to Fed than GDP: Pro Fed should step back and let rates get to market level: Expert PIMCO: Interest rates have topped out More News from 'Around the Web' CNBC - 4:49PM As renters move in, homeowners fret Reuters - 4:48PM Fed should strengthen controls for handling of minutes: watchdog CRL - 4:47PM 2013 Update: The Spillover Costs of Foreclosures Realtor.Org - 4:47PM How to Sell as Global Buyers Head to Your Town Market Watch - 2:58PM Gundlach: Housing is 'Achilles heel' of economy Bloomberg - 2:53PM Fed's Lacker Says Central Banks' Future Hinges on Role as Lender - Bloomberg www.fool.com - 2:18PM Mortgage Rates Find Uneasy Equilibrium CNBC - 1:31PM Gundlach sees fear in markets Reuters - 12:33PM Shadow banks face 2015 deadline to comply with first global rules CNBC - 11:21AM For Fed-addled market, 'good enough' just might do Bloomberg - 11:21AM El-Erian Says Emerging Market Woes to Create U.S. Headwinds - Bloomberg CNBC - 10:20AM US foreclosures edge lower in July Reuters - 10:20AM Easing stimulus, oversupply to weigh on oil next year: Reuters poll Reuters - 10:20AM U.S. banking industry earned $42.2 billion in second quarter: FDIC CNBC - 10:19AM Judge greenlights California bankruptcy www.aei.org - 10:17AM A Qualified Residential Mortgage ? a Qualified Mortgage NAHB - 10:15AM Apartment and Condominium Market Gains Momentum in Second Quarter CNBC - 10:13AM The secret recipe of German economic success freddiemac.mwnewsroom.com - 10:12AM Mortgage Rates Fluctuating Over Taper Turbulence CNBC - 10:12AM Forget tapering, here's the really big Fed deal Today's Comments MBS Live Chat - 2:00PM "Looks like it just fell off the cliff..." MBS Live Chat - 2:00PM "yeah, I wouldn't read too much into that. No liquidity. If you don't see a quote like that corroborated in Treasuries and other MBS coupons, it's safe to assume it's an outlying bid that's not gonna get hit by a seller...." MBS Live Chat - 2:02PM "just remember, Market movement requires a buyer and a seller, and that MBS quote activity is comprised of quotes and trades. Only one of the two implies money is actually changing hands at that level...." MBS Live Chat - 2:03PM "If MBS were cars, today is like Craigslist in a small town with 3 running cars and 2 licensed drivers, and only one of them has enough cash to buy a car. There's a LOT of back and forth price negotiation, but not a lot of car deals being made...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.58% -0.02 15 Yr FRM 3.69% -0.01 FHA 30 Year Fixed 4.27% -0.02 Jumbo 30 Year Fixed 4.58% -0.01 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 3.04% 0.78 +0.24 30 Yr. Fixed 3.76% 1.06 +0.18 MBA ** 30 Yr. Fixed 4.68% 0.42 +0.07 15 Yr. Fixed 3.71% 0.32 +0.05 30 Yr. Jumbo 4.74% 0.28 +0.10 30 Yr. FHA 4.40% 0.21 +0.07 5/1 ARM 3.44% 0.48 +0.05 Freddie Mac ** 30 Yr. Fixed 4.51% 0.70 -0.07 15 Yr. Fixed 3.54% 0.70 -0.06 1 Yr. ARM 2.64% 0.40 -0.03 5/1 Yr. ARM 3.24% 0.50 +0.03 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 95.70 +0.06 30YR FNMA 3.5 99.81 +0.08 30YR GNMA 3.0 96.66 +0.09 30YR GNMA 3.5 100.81 +0.08 15YR FNMA 3.0 102.13 +0.06 15YR FNMA 2.5 99.08 +0.13 Treasuries Yield Change 2 YR 0.3987% +0.0000 5 YR 1.6126% +0.0340 10 YR 2.7654% -0.0054 30 YR 3.7153% -0.0264 Prices as of: 8/29/2013 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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Daily Newsletter: Home Sales Decline, NAR Says More Building Needed; Rising Rates are Still Killing Refis; QRM Set to Become QM

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30 Year Fixed 4.60%   +0.07 15 Year Fixed 3.70%   +0.04 10YR Treasury 2.77%   +0.0585 FNMA 30YR 3.5 99.73   -0.44 FNMA 15YR 2.5 102.06   -0.25 View Today's Rates

Wednesday August 28, 2013 MND NewsWire - 11:26AM Decline in Home Sales Not Yet Concerning; More Homes Need to Be Built - NAR The National Association of Realtors® (NAR) blamed higher interest rates for the slipping home sales numbers reflected in its pending home sales report. The Pending Home Sales Index ... MND NewsWire - 8:41AM Higher Rates Continue Sapping Refinance Demand but Purchase Applications Rose Refinancing activity fell again during the week ended August 23, driving down the Mortgage Bankers Association's (MBA) Market Composite Index, a measure of mortgage application volume ... MND NewsWire - 1:35PM QRM Revision Removes 20 pct Downpayment Requirement; Alternative Raises it to 30 In a sudden departure from earlier actions, regulators today proposed two contradictory new approaches for defining Qualified Residential Mortgage ( QRM ). Either approach would change ... MND NewsWire - 2:10PM These Charts Show How The Fed's Portfolio Might Have Looked Without QE A recent entry in the Liberty Street Economics blog of the Federal Reserve Bank of New York (FYBNY), compared the recent decline in Treasury yields to those of earlier sell-offs, focusing ... Mortgage Rates Give Back Yesterday's Improvement Chase's $6 Billion Lawsuit; Will Your Vendor be Ready for the CFPB's Changes? MBS RECAP: Range Trade Trumps All; Bond Markets Weaker MBS MID-DAY: Back to Reality for Bond Markets Home Price Gains Decelerating for Most Metro Areas -Case-Shiller QRM - tomorrow; More on Fingerprints; Changing LO Comp; Purchases Worth More than Refis? Shadow Inventory down 30 Percent Annually Multifamily Sector Continues to Lead Commercial Real Estate Resurgence Latest Video July pending home sales down 1.3% World awaits action on Syria Housing recovery slows More News from 'Around the Web' CNBC - 5:57PM The Federal Reserve is feeling blue Bloomberg - 5:57PM Fed Gains Nothing With Taper Delay - Bloomberg freddiemac.mwnewsroom.com - 5:56PM Freddie Mac Issues Monthly Volume Summary for July 2013 Market Watch - 3:31PM Bond funds see biggest ouflow in eight weeks: ICI CRL - 3:30PM QRM a Strong Step Forward www.aei.org - 3:22PM A privatized multifamily financing market: GSE reorganization without guarantees S&P/Case Shiller - 2:22PM Rent vs. Buy and Inflation Adjustments Reuters - 2:21PM U.S. proposes relaxed 'skin in the game' mortgage rules www.usnews.com - 2:18PM More Evidence That Ending Fannie Mae and Freddie Mac Is a Mistake CNBC - 2:15PM Prepare for the crash no one is predicting CNN - 1:48PM Market volatility is back and here to stay CNBC - 1:42PM Jackson Hole takeaway: Taper likely in September CNBC - 12:47PM 'Broken market'? Why there's more trouble ahead Google News - 12:47PM Statement From NAR President Gary Thomas on Qualified Residential Mortgage Rule WSJ - 11:20AM Vital Signs: Buyers Can't Buy What's Not for Sale www.nytimes.com - 11:15AM New Census Numbers Show Recession's Effect on Families CNBC - 11:14AM Syria and the 'unknown unknowns' Washington Post - 11:14AM I'm scared of the debt ceiling. You should be, too. CNBC - 11:13AM 'Time running short' for 'new normal': El-Erian FHFA - 11:08AM Agencies Request Comment on Proposed Risk Retention Rule Today's Comments MND NewsWire - 9:49AM "Frankly, I am surprised the refinance index remains as high as it is. Will be interesting to see how long that lasts with rates being up about 1% from April's levels...." MBS Live Chat - 2:04PM "anyone remember the fannie rule on refi-ing a NOO that is currently in LLC name, using borrower alone? 6 months from transfer back?..." MBS Live Chat - 2:06PM "does this help, hodgy? https://www.fanniemae.com/content/guide/sel040913.pdf#page=218..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.60% +0.07 15 Yr FRM 3.70% +0.04 FHA 30 Year Fixed 4.29% +0.04 Jumbo 30 Year Fixed 4.59% +0.04 5/1 Yr ARM 3.25% +0.00 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.04% 0.78 +0.24 30 Yr. Fixed 3.76% 1.06 +0.18 MBA ** 30 Yr. Fixed 4.68% 0.42 +0.07 15 Yr. Fixed 3.71% 0.32 +0.05 30 Yr. Jumbo 4.74% 0.28 +0.10 30 Yr. FHA 4.40% 0.21 +0.07 5/1 ARM 3.44% 0.48 +0.05 Freddie Mac ** 30 Yr. Fixed 4.58% 0.80 +0.18 15 Yr. Fixed 3.60% 0.70 +0.16 1 Yr. ARM 2.67% 0.50 +0.00 5/1 Yr. ARM 3.21% 0.50 -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 95.64 -0.50 30YR FNMA 3.5 99.73 -0.44 30YR GNMA 3.0 96.56 -0.52 30YR GNMA 3.5 100.73 -0.53 15YR FNMA 3.0 102.06 -0.25 15YR FNMA 2.5 98.95 -0.36 Treasuries Yield Change 2 YR 0.3987% +0.0386 5 YR 1.5786% +0.0566 10 YR 2.7708% +0.0585 30 YR 3.7417% +0.0474 Prices as of: 8/28/2013 4:32PM 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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