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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