Daily Newsletter: FHA Throws Big Lifeline to Credit-Challenged Borrowers; Rates Break 2-yr Highs; Pre-Approvals vs Pre-Qualifications

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30 Year Fixed 4.75%   +0.06 15 Year Fixed 3.84%   +0.06 10YR Treasury 2.88%   +0.0525 FNMA 30YR 3.5 98.53   -0.50 FNMA 15YR 2.5 101.41   -0.47 View Today's Rates

Monday August 19, 2013 MND NewsWire - 2:05PM FHA Throws Lifeline to Those With Damaged Credit During Recession The financial crisis took its toll on Wall Street and Main Street alike. Mistakes were made and bills went unpaid on both sides of the fence, but Main Street sees Wall Street bailouts ... Mortgage Rate Watch - 5:19PM Mortgage Rates Highest in More Than Two Years Mortgage rates were convincingly higher today , continuing last week's move toward the levels not seen in over two years. Those levels were reached by some lenders today as they rose ... Community Commentary - 4:18PM Pre-Approvals vs. Pre-Qualifications in the Home Buying Process One of the first things a savvy home shopper does PRIOR to starting a serious home search is to explore mortgage options. An experienced realtor will encourage buyers speak with a lender ... MBS Commentary - 4:51PM MBS RECAP: When Will Sept-Taper be Priced-in? MBS Live : MBS Afternoon Market Summary Bond markets continued free-falling today, ostensibly searching for the theoretical point at which a September 18th reduction in the Fed's asset ... Appraisal AIR Links; Last Week's CFPB Changes Including ATR/QM; Upcoming Training & Seminars Analysts Call for Salvaging GSEs, Advocate Small Tweaks not Massive Reform California Housing Recovery Continues Full Throttle Multifamily Construction Buoys Housing Data Servicing Revenues Gain Importance; Lender Margin Survey; LO Comp an Ongoing Issue; Amazing All-Cash Buyer Numbers CFPB Updates Financial Institution Exam Procedures Latest Video Repairing the housing market foundation 'Eminent domain' in California? Evans' Eye On' housing affordability More News from 'Around the Web' www.whitehouse.gov - 5:54PM Readout of the President's Meeting with Independent Financial Regulators WSJ - 4:20PM Watchdog: Fannie, Freddie Should Expedite Accounting Changes Reuters - 4:19PM Analysis: In choice of next Fed chair, a focus on regulatory views www.cfpbmonitor.com - 4:19PM HUD seeks stay of disparate impact suit Bloomberg - 2:35PM Banks Dump Treasuries for Loans as Yields Jump SIFMA - 2:35PM SIFMA Statement on President Obama's Meeting with Financial Regulators Reuters - 2:34PM Fed tells big banks to improve capital planning CNBC - 2:30PM Is the government trying to break up JPMorgan? The Big Picture - 1:27PM What Do Outsized Bond Yield % Increases Mean? CNBC - 1:17PM With rates on the rise, here's how to play housing Bloomberg - 11:26AM JPMorgan to Pay $23 Million to End Suit Over Lehman Notes - Bloomberg CNN - 10:12AM Bond bubble finally bursting? Rates creep up Bloomberg - 10:11AM Fannie Mae and Freddie Mac Said to Avoid Billions in Write-Offs - Bloomberg Market Watch - 9:21AM Bond Report: Treasury yields mark new two-year highs Bloomberg - 9:16AM US 10-Year Yields to Rise Above 3%, BlackRock's Rieder Says - Bloomberg CNBC - 9:16AM Obama to get update on Dodd-Frank Bloomberg - 8:22AM Obama to Meet Financial Regulators on Dodd-Frank Implementation - Bloomberg Today's Comments MND NewsWire - 1:16AM "Interesting that as GFees increase and Fan/Fred continue generating, rather than draining, government revenues, the chorus from Capital Hill is to disband them and privatize lending in US. With home values and equity increasing, and new loan quality, underwriting standards, and default rates all improving..." MBS Live Chat - 1:05PM "I think the "experts" really are missing the boat on this rate issue. talked to a few wholesale reps today who said even their purchase is way down...." MBS Live Chat - 1:07PM "The date from the rise in rates hasn't really hit the econ reports, or is just starting to. We'll see what happens now to the end of Sept, imo. S/b interesting...." MBS Live Chat - 1:07PM "I talked to a couple of escrow regional managers, end of last week, and they shared the same PM. Refis were expected to drop, but they weren't expecting the significant slowing in purchases over the last 30 days...." MBS Live Chat - 1:08PM "Yeah Philip all the reps I have spoke to are saying that purchase volume is noticeably down...." MBS Live Chat - 1:12PM "In the small community I have of lenders, LOs, escrow agents and realtors is that volume is off 60-80% compared to pre-May/June. All our lenders are 1 day or less on everything...." MND NewsWire - 3:35PM "Great news for credit challenged borrowers. While not a "Get Out of Credit Jail Free" card, at least it opens some options for borrowers whose credit suffered due to circumstances beyond their control...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.75% +0.06 15 Yr FRM 3.84% +0.06 FHA 30 Year Fixed 4.41% +0.07 Jumbo 30 Year Fixed 4.75% +0.05 5/1 Yr ARM 3.30% +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 94.31 -0.47 30YR FNMA 3.5 98.53 -0.50 30YR GNMA 3.0 95.09 -0.41 30YR GNMA 3.5 99.52 -0.48 15YR FNMA 3.0 101.41 -0.47 15YR FNMA 2.5 98.06 -0.50 Treasuries Yield Change 2 YR 0.3548% +0.0122 5 YR 1.6059% +0.0399 10 YR 2.8813% +0.0525 30 YR 3.8995% +0.0521 Prices as of: 8/19/2013 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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