Daily Newsletter: Plans to Reduce Conforming Loan Limits Under Heavy Fire from Industry Groups, Congress; Yellen Nominated to Succeed Bernanke; Rates Unchanged

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30 Year Fixed 4.33%   +0.00 15 Year Fixed 3.42%   -0.01 10YR Treasury 2.66%   +0.0256 FNMA 30YR 3.5 101.20   -0.39 FNMA 15YR 2.5 103.02   -0.36 View Today's Rates

Wednesday October 9, 2013 MND NewsWire - 4:14PM Plans to Reduce Conforming Loan Limits Under Heavy Fire from Industry Groups, Congress Pressure appears to be building on the Federal Housing Finance Agency's (FHFA) acting director to back down or at least delay an intended reduction in conforming loan limits for Fannie ... MND NewsWire - 1:00PM Yellen Brings Impeccable Foresight and Soothing Continuity as Fed Chair The White House has confirmed that President Obama will announce his nomination of Janet Yellen to succeed Ben Bernanke as Chairperson of the Federal Reserve's Board of Governors. Yellen ... Mortgage Rate Watch - 4:39PM Mortgage Rates Unchanged Despite Market Volatility Mortgage rates were unchanged today, the the underlying mortgage-backed-securities (MBS) market was volatile. MBS have the most direct effect on mortgage rates of any financial instrument ... Pipeline Press - 10:51AM Lots Going on in the Mortgage Insurance Biz; Investor & Vendor Updates Continue I have decided to take matters into my own hands. I am in the Washington DC area today for the Mid-Atlantic Lender Conference, and I plan on telling Congress to be sure to wait until ... MBS RECAP: Volatility Surrounding FOMC Minutes, but Minimal Damage Policymakers Must Consider Multifamily Role in Housing Finance Refinance Applications Improve Again; Purchases Fall Improving Equity and Fewer Investors will Drive California Home Sales in 2014 Shadow Inventory Drops below 2 Million Homes Freddie Mac's Shutdown Workaround for Furloughed Workers Latest Video Fed lost influence on bonds? Janet Yellen not a Bernanke clone: Pro Bond investors should bank on Yellen: Bill Gross More News from 'Around the Web' Washington Post - 5:02PM Wonkblog: Fed chair is always a hard job. Yellen is inheriting an even harder one. CNBC - 5:02PM Here's how Yellen explains unemployment WSJ - 3:38PM Key Passages From Fed Minutes Show Officials Torn on Tapering Federal Reserve - 2:27PM Minutes of the Federal Open Market Committee, September 17-18, 2013 CNBC - 2:19PM Fed minutes: Heated debate in September over whether to taper WSJ - 1:33PM Donald Kohn on Janet Yellen: 'She's the Whole Package' Reuters - 1:29PM Default jitters spread to U.S. repo market Federal Reserve - 1:27PM Regulators encourage institutions to work with borrowers affected by government shutdown Realtor.Org - 1:01PM NAR's Yun on Debt Ceiling: 450,000 Lost Sales with 1% Mortgage Rate Rise Google News - 12:20PM NAR: Home Buyers Value Environmentally Friendly Features www.forbes.com - 11:27AM 4 Ways Government Shutdown Affects New Mortgages CNN - 10:20AM Stocks barely budge on Yellen nomination Market Watch - 10:20AM Bond Report: Treasurys hold to range on debt-ceiling jitters Market Watch - 10:20AM Battered mortgage REITs face uncertain future CNBC - 10:15AM More yelling over Yellen? The coming battle royale Bloomberg - 9:37AM Mortgage REITs Pose Dangers Requiring More Oversight, IMF Says CNBC - 9:31AM JPMorgan seeks to bail on dicey lenders: Report Reuters - 7:46AM U.S. mortgage applications edge up on more refinancing: MBA CNBC - 7:44AM No, people won't buy bonds on a default: BlackRock CNBC - 7:44AM Stocks seen higher on Yellen Fed appointment Today's Comments MND NewsWire - 10:06AM "Surprised anyone's been writing 40 year terms and interest only loans (with exception of jumbos). Now will CFPB start restricting auto loans to 60 months? Saw an 84 month loan on a recent credit report. Good luck staying right side up on that loan!..." MBS Live Chat - 2:00PM "RTRS- U.S. FED DECISION NOT TO REDUCE BOND BUYING 'A RELATIVELY CLOSE CALL' FOR SEVERAL VOTING MEMBERS -MINUTES OF SEPT MEETING..." MBS Live Chat - 2:00PM "RTRS- A NUMBER OF MEMBERS STRESSED CONTINGENT, DATA-DEPENDENT NATURE OF QE -MINUTES..." MBS Live Chat - 2:00PM "RTRS - MEMBERS WORRIED TIGHTER FINANCIAL CONDITIONS COULD SLOW ECONOMY, LABOR MARKET -FED MINUTES..." MBS Live Chat - 2:01PM "RTRS- A FEW PARTICIPANTS PREFERRED TO CUT ONLY TREASURIES BUYS WHEN TIME COMES -MINUTES..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.33% +0.00 15 Yr FRM 3.42% -0.01 FHA 30 Year Fixed 4.01% -0.01 Jumbo 30 Year Fixed 4.34% +0.01 5/1 Yr ARM 3.12% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.62% 1.06 +0.18 30 Yr. Fixed 4.49% 1.21 +0.22 MBA ** 30 Yr. Fixed 4.42% 0.44 -0.07 15 Yr. Fixed 3.52% 0.34 -0.03 30 Yr. Jumbo 4.45% 0.21 -0.08 30 Yr. FHA 4.15% 0.37 -0.06 5/1 ARM 3.25% 0.29 -0.01 Freddie Mac ** 30 Yr. Fixed 4.22% 0.70 -0.10 15 Yr. Fixed 3.29% 0.70 -0.08 1 Yr. ARM 2.63% 0.40 +0.00 5/1 Yr. ARM 3.03% 0.60 -0.04 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 96.89 -0.45 30YR FNMA 3.5 101.20 -0.39 30YR GNMA 3.0 97.81 -0.36 30YR GNMA 3.5 102.13 -0.31 15YR FNMA 3.0 103.02 -0.36 15YR FNMA 2.5 99.98 -0.28 Treasuries Yield Change 2 YR 0.3614% -0.0277 5 YR 1.4240% -0.0016 10 YR 2.6631% +0.0256 30 YR 3.7383% +0.0475 Prices as of: 10/9/2013 4:28PM 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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