Daily Newsletter: Analysts Call for Salvaging Fannie and Freddie; Rates Rise Sharply; Mixed-bag for Construction Data; California Recovery Continues

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30 Year Fixed 4.69%   +0.10 15 Year Fixed 3.78%   +0.03 10YR Treasury 2.83%   +0.0661 FNMA 30YR 3.5 99.03   -0.56 FNMA 15YR 2.5 101.88   -0.34 View Today's Rates

Friday August 16, 2013 MND NewsWire - 2:40PM Analysts Call for Salvaging GSEs, Advocate Small Tweaks not Massive Reform Bank of America Merrill Lynch has jumped full on into the debate over the future of Fannie Mae and Freddie Mac (the GSEs). With a recent article from its rates research staff titled ... Mortgage Rate Watch - 5:42PM Mortgage Rates Sharply Higher After Lukewarm Economic Data Mortgage rates rose sharply again today , with best-execution up to 4.75 in most cases, after another round of economic data failed to convince markets that the Fed would reconsider ... MND NewsWire - 10:28AM Multifamily Construction Buoys Housing Data The pace of residential construction was notably mixed across all three Census Bureau measures in July, with the issuance of permits, housing starts, and housing completions all increasing ... MND NewsWire - 2:09PM California Housing Recovery Continues Full Throttle Home sales in California surged by 17.3 percent in July DataQuick said today, rising from 41,027 sales of new and existing houses in June to 48,118 in July. The San Diego based company ... MBS MID-DAY: Big Nasty Sell-Off. Widespread Reprices Servicing Revenues Gain Importance; Lender Margin Survey; LO Comp an Ongoing Issue; Amazing All-Cash Buyer Numbers CFPB Updates Financial Institution Exam Procedures Rising Rates Unlikely to Affect Purchase Mortgages, Refinancing a Different Story Avoiding a Double Dip Recession May be up to Housing Builder Confidence Bucks Housing Data Trends; Near 8-yr High Latest Video Former WF CEO: '20 financial institutions caused crisis' Rising rates hurting housing? Housing starts up 5.9% in July More News from 'Around the Web' Market Watch - 5:05PM Fed's Fisher: Treasury fall as 'QE infinity' ends Washington Post - 5:05PM Fed may chose tiny taper to maximize flexibility WSJ - 4:19PM HUD Takes a 'Wait and See' Approach on Eminent Domain WSJ - 4:19PM Housing Expansion May Be Getting Scaled Back CNBC - 3:27PM Bernanke may delay tapering past September: UBS Washington Post - 1:56PM These two charts explain the housing market Washington Post - 1:30PM Don't blame the CFPB for tight credit CNBC - 12:38PM Pimco: 'Great rotation' to stocks won't happen Market Watch - 11:00AM The Week in Charts: The charts that point to an imminent Fed taper WSJ - 11:00AM Fannie Could Curb Low-Down-Payment Loan Purchases Market Watch - 10:58AM Home-builder shares up; data show more building Washington Post - 10:58AM One option for the Fed: Taper, but tiny www.philadelphiafed.org - 10:57AM Forecasters' Outlook for Growth Weakens Bloomberg - 10:57AM Wells Fargo Buys $1.6 Billion of ING Commercial Property Loans - Bloomberg CNBC - 10:56AM What is fair value for the 10-year Treasury? CNBC - 10:56AM Cashin: 'There's no sign of inflation anywhere' DataQuick - 9:39AM July California Home Sale Press Release The Huffington Post - 9:32AM Mayor Takes Bold Stance Against Foreclosures CNBC - 9:29AM 'Fat finger?' Flash surge in China CNBC - 9:28AM Housing starts up 5.9% in July; Q2 productivity beats expectations with 0.9% gain Today's Comments MBS Live Chat - 10:12AM "How easy we forget how much of a wildcard the Federal Reserve is. I wouldn't put it past them to change the entire statement next month making the May taper talk the biggest head fake in financial history. By in large the discussion has been taper vs. not taper or prolong the taper to Q1 '14. I wouldn..." MBS Live Chat - 10:58AM "I'm not a Fed apologist, but I have to wonder where we'd be without it. I think many of us fail to recognize how awful this situation was, and there is a chance that QE and where we are today has just set the foundation for the real recovery. I know we'd like to see a real recovery at this point, but..." MBS Live Chat - 12:35PM "TC, it's in the alert, but perhaps a bit "coded." There's no headline cause and effect, just bigger tradeflows coming through Treasuries. All it takes is one big trade bold enough to step out from the herd and the rest of the herd follows quickly. Dominoes and snowballs are other analogies that work..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.69% +0.10 15 Yr FRM 3.78% +0.03 FHA 30 Year Fixed 4.34% +0.06 Jumbo 30 Year Fixed 4.70% +0.07 5/1 Yr ARM 3.28% +0.02 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 4.61% 0.42 +0.03 15 Yr. Fixed 3.66% 0.43 -0.01 30 Yr. Jumbo 4.64% 0.34 +0.00 30 Yr. FHA 4.33% 0.26 +0.03 5/1 ARM 3.39% 0.37 +0.00 Freddie Mac ** 30 Yr. Fixed 4.40% 0.70 +0.00 15 Yr. Fixed 3.44% 0.60 +0.01 1 Yr. ARM 2.67% 0.40 +0.05 5/1 Yr. ARM 3.23% 0.50 +0.04 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 94.78 -0.72 30YR FNMA 3.5 99.03 -0.56 30YR GNMA 3.0 95.50 -0.83 30YR GNMA 3.5 100.00 -0.59 15YR FNMA 3.0 101.88 -0.34 15YR FNMA 2.5 98.56 -0.42 Treasuries Yield Change 2 YR 0.3426% -0.0036 5 YR 1.5660% +0.0482 10 YR 2.8288% +0.0661 30 YR 3.8474% +0.0415 Prices as of: 8/16/2013 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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