Daily Newsletter: Housing Affordability Hits 5 Year Low; Distressed Sales Drag Down Home Price Recovery; Rates Abruptly Higher

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30 Year Fixed 4.51%   +0.10 15 Year Fixed 3.69%   +0.07 10YR Treasury 2.72%   +0.0993 FNMA 30YR 3.5 100.02   -0.70 FNMA 15YR 2.5 102.45   -0.39 View Today's Rates

Tuesday August 13, 2013 MND NewsWire - 1:22PM National Housing Affordability Hits 5 Year Low Yesterday the California Association of Realtors® (C.A.R.) reported that home affordability in the state was falling rapidly. Today the National Association of Home Builders ( NAHB ... MND NewsWire - 12:21PM Home Prices Fall Slower, Rise Faster Without Distressed Sales Until the beginning of the housing bust, distressed sales were only a small part of the market and were discounted only in a modest and relatively stable manner therefore there was ... Mortgage Rate Watch - 3:09PM Mortgage Rates Abruptly Higher After Retail Sales Data Mortgage rates were abruptly higher today , moving back toward the highs of the month and erasing most of the improvements seen since the Employment Report on August 2nd. After an excessively ... MBS Commentary - 4:35PM MBS RECAP: First Big Move in 7 Sessions is Unfriendly MBS Live : MBS Afternoon Market Summary After maligning last week's lack of excitement, bond market bulls would be happy to have it back after today's sell-off. We were expecting more ... Fraud Stats Overstated; Mortgage Banker Margins; Fine-Tuning Nation's LO and Lender Numbers Affordability Lowest Since 2008 in California 100 Years of Fed Bond Buying CFPB goes after PNC; TARP Lawsuit; STRATMOR Survey on Response to Higher Rates Do's and Don't's For a Smooth Mortgage Process: Part 9 Half-Time Report on HARP Largely Positive Eminent Domain Calls Down Thunder From FHFA Latest Video 90 Seconds with Art Cashin: Taper in September? Retail: Awaiting the Fed's next move? Retail sales up 0.2% in July More News from 'Around the Web' WSJ - 4:45PM Dallas Fed's Fisher Weighs Odds of Him Getting Chairman Job: 'Zero' CNBC - 2:29PM Retail data not huge, yet enough to fan taper talk WSJ - 1:42PM Housing Inventory Rose in July CNBC - 1:35PM Too early to say on tapering: Lockhart CNBC - 1:35PM Disconnects posing market risk: Pimco's El-Erian freddiemac.mwnewsroom.com - 12:23PM Refinance Cash-Out Share Increases; Remains Low Historically CNBC - 11:07AM Looking for Fed clues? Forget about Jackson Hole CNBC - 10:58AM Misreading Fed's new QE study WSJ - 10:36AM Jackson Hole Agenda Leaked Reuters - 10:34AM U.S. business inventories flat, could weigh on second-quarter GDP www.aei.org - 10:33AM Government mortgage guarantees lead to bailouts NAHB - 10:32AM Rising Home Values Impact Affordability in Second Quarter CNBC - 10:31AM Almost everyone is misreading Fed's new QE study CNBC - 10:31AM Good data blitz bodes well for rally and Fed taper CNBC - 9:33AM Linking rates to jobs: logical or dangerous? www.gallup.com - 9:32AM U.S. Economic Confidence Edges Back Up WSJ - 9:30AM BOJ Minutes Raise Debt Concerns Reuters - 9:26AM Gauge of U.S. consumer spending posts biggest gain in seven months Reuters - 9:26AM U.S. import prices rise less than expected, inflation pressures tame FHFA - 9:17AM FHFA Releases New Working Paper Analyzing the Effect of Distressed Sales on the FHFA House Price Index Today's Comments MBS Live Chat - 12:45PM "RTRS - LOCKHART – FED ASSET PURCHASES PROGRAM INTENDED TO HAVE A BEGINNING AND END; IT IS NOT QE INFINITY..." MBS Live Chat - 12:45PM "RTRS- LOCKHART SAYS DECISIONS TO REDUCE ASSET BUYS WILL BE DATA-DEPENDENT..." MBS Live Chat - 12:46PM "that seems friendly to us..." MBS Live Chat - 12:50PM "Patiently waiting for the board to light up green!..." MBS Live Chat - 12:51PM "you may be waiting a while...." MBS Live Chat - 3:29PM "REPRICE : 3:29 PM - Flagstar Worse..." MBS Live Chat - 3:30PM "REPRICE : 3:30 PM - Sierra Pacific Worse..." MBS Live Chat - 3:30PM "REPRICE : 3:30 PM - Suntrust Worse..." MBS Live Chat - 3:30PM "REPRICE : 3:30 PM - Quicken Loans Wholesale Worse..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.51% +0.10 15 Yr FRM 3.69% +0.07 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.54% +0.09 5/1 Yr ARM 3.23% -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 4.61% 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 +0.01 15 Yr. Fixed 3.43% 0.70 +0.00 1 Yr. ARM 2.62% 0.30 -0.02 5/1 Yr. ARM 3.19% 0.50 +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 95.97 -0.78 30YR FNMA 3.5 100.02 -0.70 30YR GNMA 3.0 97.03 -0.78 30YR GNMA 3.5 101.19 -0.72 15YR FNMA 3.0 102.45 -0.39 15YR FNMA 2.5 99.34 -0.52 Treasuries Yield Change 2 YR 0.3340% +0.0241 5 YR 1.4749% +0.0918 10 YR 2.7172% +0.0993 30 YR 3.7559% +0.0730 Prices as of: 8/13/2013 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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