Daily Newsletter: Fed Shocks Markets by Leaving QE Fully Intact; Mortgage Rates Drop Significantly

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

30 Year Fixed 4.49%   -0.10 15 Year Fixed 3.59%   -0.11 10YR Treasury 2.70%   -0.1489 FNMA 30YR 3.5 100.83   +1.42 FNMA 15YR 2.5 102.67   +0.86 View Today's Rates

Wednesday September 18, 2013 Mortgage Rate Watch - 5:34PM Mortgage Rates Much Lower After Fed Keeps Policy Change on Hold Mortgage rates surged lower today following the long-awaited policy announcement from the Federal Reserve. Conforming, 30yr Fixed rates fell to 4.5% with some of the more aggressive ... MND NewsWire - 10:57AM Multifamily Construction Drags Down Housing Starts Data Building permits for the construction of new privately owned residential units fell 3.8 percent in August to a seasonally adjusted annual rate of 918,000 the Census Bureau and the Department ... MND NewsWire - 12:48PM As Rates Rise, Origination Trends Toward Looser Credit Ellie Mae reported today that the refinancing share of loans has dropped 15 percentage points since rates first began to escalate in May. The company's August Origination Insight Report ... Community Commentary - 12:25PM Build Your Own Fed Statement - Taper Edition Parsing the Fed is everyone's favorite game, so before the Fed wraps its sixth meeting of 2013 this afternoon, it's time to play "Build Your Own Fed Statement!" It's easy to win, just ... MBS RECAP: Fed Flips One Script, Sticks to the Other; Facemelter Ensues Differences Between Past and Current FOMC Statements Lenders Reported 38 percent More Loans in 2012; 54 percent More Refinances Things are Good in Servicing, Credit Unions and MI; Will the Industry Embrace Non-QMLoans? Mortgage Activity Rebounds from Tough Holiday Week FOMC Day Ahead: 2 Charts, 2 Ways We May Be Engineering Bond Market History Latest Video The Fed's impact on housing Fed keeps bond buying program intact Pisani: Traders feel duped by Fed More News from 'Around the Web' Washington Post - 7:23PM Why didn't the Fed taper? Because Congress is horrible. Bloomberg - 7:17PM Wells Fargo Cutting 1800 Jobs in Mortgage Processing Business - Bloomberg CNBC - 7:16PM The most important part of Fed's taper decision WSJ - 4:37PM Economsits React: Fed 'Was Clearly Spooked' www.cfpbmonitor.com - 4:36PM CFPB finalizes amendments to mortgage rules Federal Reserve - 3:00PM Federal Reserve Board and Federal Open Market Committee release economic projections from the September 17-18 FOMC meeting WSJ - 2:57PM Four Takeaways on the Fed's Economic and Rate Projections CNBC - 2:28PM Taper off! Fed keeps foot on the easy money pedal Market Watch - 2:28PM Builders up after Fed's no-taper announcement CFPB - 1:02PM Our new mortgage visualization tool CNBC - 1:02PM Why tapering will actually boost bonds: Pro WSJ - 11:29AM Realtors to Regulator: Don't Lower the Loan Limits House Financial Services - 11:25AM HUD IG: Department's Eight Year Delay Impacts FHA Fund by $15 Billion Bloomberg - 10:29AM Mortgage Lending Rose 38% Last Year, U.S. Regulators' Data Show - Bloomberg WSJ - 9:14AM Regional Builder Chooses Bonds Over Banks business.time.com - 9:12AM Taper Tantrums: 3 Myths About Quantitative Easing Reuters - 9:06AM Multifamily homes restrain U.S. housing starts, permits in August CNBC - 9:05AM Fed 'can't change' homebuyer demographics: Builder CNBC - 9:05AM Blankfein: Fed move is not as big a deal as people are making it out to be Bloomberg - 7:34AM Treasuries Lag Behind Mortgages as Fed Seen Tapering Purchases Today's Comments MBS Live Chat - 3:17PM "days like today make this site invaluable - I just huddles my Unit Managers and told them: "look there is typically a 2-3 business delay from market shift to origination influx, get your files moved now, we need to be nimble with this and not fall behind"..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.49% -0.10 15 Yr FRM 3.59% -0.11 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.50% -0.10 5/1 Yr ARM 3.16% +0.04 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.44% 0.85 +0.40 30 Yr. Fixed 4.27% 1.09 +0.51 MBA ** 30 Yr. Fixed 4.75% 0.39 -0.05 15 Yr. Fixed 3.81% 0.34 -0.02 30 Yr. Jumbo 4.83% 0.33 -0.01 30 Yr. FHA 4.50% 0.41 -0.06 5/1 ARM 3.54% 0.43 -0.05 Freddie Mac ** 30 Yr. Fixed 4.57% 0.80 +0.00 15 Yr. Fixed 3.59% 0.70 +0.00 1 Yr. ARM 2.67% 0.40 -0.04 5/1 Yr. ARM 3.22% 0.50 -0.06 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 96.72 +1.61 30YR FNMA 3.5 100.83 +1.42 30YR GNMA 3.0 97.48 +1.70 30YR GNMA 3.5 101.83 +1.48 15YR FNMA 3.0 102.67 +0.86 15YR FNMA 2.5 99.64 +1.11 Treasuries Yield Change 2 YR 0.3266% -0.0484 5 YR 1.4359% -0.1712 10 YR 2.6969% -0.1489 30 YR 3.7524% -0.0753 Prices as of: 9/18/2013 4:30PM 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

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.