Daily Newsletter: Huge Spike in Delinquencies Chalked up to Seasonal Factors; Mortgage Credit Availability Improves; How Does This Sell-Off Stack up?

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30 Year Fixed 4.49%   +0.01 15 Year Fixed 3.69%   +0.01 10YR Treasury 2.64%   +0.0364 FNMA 30YR 3.5 100.75   -0.17 FNMA 15YR 2.5 102.77   -0.16 View Today's Rates

Monday August 5, 2013 MND NewsWire - 11:02AM Huge Spike in Delinquencies Chalked up to Seasonal Factors The headline news from the Lender Processing Services (LPS) Mortgage Monitor Report for June, that early mortgage delinquencies had surged 10 percent during the month, was released ... MND NewsWire - 2:49PM Cash-Out Loans Help Mortgage Credit Availability Improve The Mortgage Bankers Association's new Mortgage Credit Availability Index (MCAI) increased in June to 112.3 from 108.9 in May, an increase of 2.2 percent. This was the fifth consecutive ... MND NewsWire - 3:11PM Treasury Sell-Off Compared to Past Examples Is the recent change in long-term Treasury yields the result of investors optimism about higher short-term rates down the road, or are they demanding more return on their long-term ... Mortgage Rate Watch - 4:33PM Mortgage Rates Sharply Sideways Mortgage rates were essentially unchanged today. Whereas rates where sharply lower on Friday (after being sharply higher on Wednesday morning, lower on Wednesday afternoon, and higher ... Higher Flood Insurance Costs are Here to Stay; Upcoming Conferences & Training Events MBS RECAP: Quiet August Trading is Underway NMLS Report Paints Picture of Industry Consolidation Are LOs Legally Liable for Their Company's Comp Plan? Former CFPB Officials Under Congressional Fire Sellers' Market For Now, but Home Price Surge Will Not Last Definition of a "Mortgage Application" Latest Video 'All roads lead to the Fed': Santelli Santelli: Slow August? Slow bond activity? Mortgage standards easing More News from 'Around the Web' Washington Post - 5:33PM S&P screwed up when it downgraded U.S. credit 2 years ago. Here's proof. Bloomberg - 5:33PM Who Does America's Banker Wants as Fed Chairman? - Bloomberg WSJ - 3:26PM Word Around the Campfire (Literally): Yellen Favored For Next Fed Chair Bloomberg - 2:33PM HSBC Says US Mortgage Bond Suit Damages May Cost $1.6 Billion - Bloomberg Market Watch - 2:32PM Fed: Banks eased loan standards in second quarter WSJ - 1:40PM What Happens if Unemployment Gets to 7% Before Fed Is Ready? CNBC - 1:38PM ISM services and the July economy: two out of three ain't bad CNBC - 1:37PM Higher mortgage rates may mean easier credit Bloomberg - 11:38AM SunTrust to Invest Up To $5 Billion in MetLife Commercial Loans CNBC - 11:36AM Obama first to politicize Fed pick: Romney advisor WSJ - 9:57AM Secondary Sources: Budget Bedlam, Bond Selloff, Fed Taper WSJ - 9:56AM Economic Data Slow to a Trickle This Week www.lpsvcs.com - 9:18AM LPS' June Mortgage Monitor: Spike in Delinquency Rate Broad-Based Across Geography, Loan Type CNBC - 9:15AM US consumer spending flattening: Gallup CNBC - 8:12AM Fed needs a leader with wisdom and not charisma Today's Comments MBS Live Chat - 12:00PM "I believe that since he is taking this 401k distribution pre-tax, it is taken out of his income. So his paystub pay show $1666.67 per month, but also shows a $1666.67 pre-tax contribution to his 401K, which nets him $0 income that month. So he basically has no income that month since all of his money..." MBS Live Chat - 12:04PM "So I must be missing something, but I've been looking for the past 5 minutes for a chart history of the Prime Rate. Anyone have a link handy?..." MBS Live Chat - 12:06PM "http://www.fedprimerate.com/wall_street_journal_prime_rate_history.htm..." MBS Live Chat - 12:07PM "or http://research.stlouisfed.org/fred2/graph/?id=MPRIME,..." MBS Live Chat - 12:09PM "MG, have you seen this? Fed's Fisher: Closer to taper after job data http://www.marketwatch.com/story/feds-fisher-closer-to-taper-after-job-data-2013-08-05-1191306..." MBS Live Chat - 12:11PM "Fischer is a hawk. How would they give credence to the UE rate going to 7.4% when the job participation rate went down? It's directly related and I don't think the Fed is dumb enough to not see that. Fisher has always wanted QE to end fast so he'll say anything towards that agenda...." MBS Live Chat - 12:12PM "I think you answered all 2-3 of your own questions MG2..." MND NewsWire - 2:52PM "Wow, what great perspective the 2007 comparison is: 800 then, 112 today. My how the times have changed!..." MBS Live Chat - 12:22PM "Are fed member always this outspoken in regards to policy? Or is this just under Ben?..." MBS Live Chat - 12:38PM "I think Bernanke's transparency campaign + the less-than-boring circumstances of the past 5 years have afforded a richer backdrop against which the Fed govs can perform their scheduled speaking...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.49% +0.01 15 Yr FRM 3.69% +0.01 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.48% -0.01 5/1 Yr ARM 3.22% +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 4.58% 0.38 +0.00 15 Yr. Fixed 3.67% 0.40 +0.04 30 Yr. Jumbo 4.64% 0.39 -0.02 30 Yr. FHA 4.30% 0.31 +0.02 5/1 ARM 3.39% 0.40 +0.09 Freddie Mac ** 30 Yr. Fixed 4.39% 0.70 +0.08 15 Yr. Fixed 3.43% 0.70 +0.04 1 Yr. ARM 2.64% 0.40 -0.01 5/1 Yr. ARM 3.18% 0.60 +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 96.83 -0.20 30YR FNMA 3.5 100.75 -0.17 30YR GNMA 3.0 97.83 -0.17 30YR GNMA 3.5 101.86 -0.09 15YR FNMA 3.0 102.77 -0.16 15YR FNMA 2.5 99.81 -0.27 Treasuries Yield Change 2 YR 0.3054% +0.0041 5 YR 1.3864% +0.0277 10 YR 2.6381% +0.0364 30 YR 3.7319% +0.0447 Prices as of: 8/5/2013 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. 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