Tuesday, September 10, 2013

Daily Newsletter: Mortgage Rates End 2-Day Streak; HUD Not Making The Grade; Home Equity Gains May Decelerate From Here; Eminent Domain Won't Die

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30 Year Fixed
4.74%   +0.05
15 Year Fixed
3.80%   +0.03
10YR Treasury
2.97%   +0.0561
FNMA 30YR 3.5
98.69   -0.45
FNMA 15YR 2.5
101.44   -0.17
Tuesday September 10, 2013
Mortgage Rate Watch - 6:56PM
Mortgage rates bounced back toward recent highs today, ending a fairly healthy two-day move lower after last Thursday saw the highest rates in more than 2 years. Today's rise in rates ...
MND NewsWire - 7:46PM
HUD is struggling to make the grade, regardless of potentially valid excuses. That's the short version. The longer version in today's testimony from David A. Montoya, Inspector General ...
MND NewsWire - 1:19PM
While they don't agree on the numbers or use the same timeframes, the two reports on underwater mortgages released in the last week do conclude that homeowners are rapidly recapturing ...
MND NewsWire - 10:34AM
Several fair housing and civil rights groups have come to the side of the City of Richmond, California as it attempts to use its power of eminent domain to buy and modify underwater ...
MBS Live Chat - 1:44PM
"respa question for you guys. So my lender (personal purchase) begrudgenly extended our lock 15 days to 9/16 but when they sent out a new GFE it reflects a 60 day lock good through 11/2. I asked the LO about it and he said "oh, whoops, yeah that should be 9/16, I've corrected it in the system" Correct..."
MBS Live Chat - 1:45PM
"we're planning to close this friday but the builder needs to completely rebuild our kitchen island, it's about 2 feet in the wrong area. THey would prefer to get it done pre closing rather then post closing, so I was thinking maybe we would have some extra time..."
MBS Live Chat - 1:46PM
"Justin - that is correct. A "mistake" isn't a COC..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.74% +0.05
15 Yr FRM 3.80% +0.03
FHA 30 Year Fixed 4.42% +0.04
Jumbo 30 Year Fixed 4.72% +0.02
5/1 Yr ARM 3.17% -0.01
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 4.73% 0.33 -0.07
15 Yr. Fixed 3.75% 0.30 -0.09
30 Yr. Jumbo 4.71% 0.25 -0.07
30 Yr. FHA 4.48% 0.30 -0.04
5/1 ARM 3.49% 0.37 -0.01
Freddie Mac **
30 Yr. Fixed 4.57% 0.70 +0.06
15 Yr. Fixed 3.59% 0.70 +0.05
1 Yr. ARM 2.71% 0.50 +0.07
5/1 Yr. ARM 3.28% 0.50 +0.04
* 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 94.19 -0.47
30YR FNMA 3.5 98.69 -0.45
30YR GNMA 3.0 94.94 -0.50
30YR GNMA 3.5 99.59 -0.39
15YR FNMA 3.0 101.44 -0.17
15YR FNMA 2.5 98.09 -0.23
Treasuries
Yield Change
2 YR 0.4707% +0.0280
5 YR 1.7704% +0.0565
10 YR 2.9662% +0.0561
30 YR 3.8960% +0.0457
Prices as of: 9/10/2013 4:31PM EST
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:
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