Monday, December 9, 2013

Daily Newsletter: HELOCs About to be a Problem?; Home Price Expectations Decline; FHA Lowers Loan Limits; Some Servicers Need Improvement

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30 Year Fixed
4.52%   -0.03
15 Year Fixed
3.53%   -0.04
10YR Treasury
2.85%   -0.0109
FNMA 30YR 3.5
100.27   +0.16
FNMA 15YR 2.5
102.75   +0.09
Monday December 9, 2013
MND NewsWire - 12:14PM
Lender Processing Services (LPS) Mortgage Monitor for October reports that 48 percent of outstanding second lien home equity lines of credit (HELOCs) were originated between 2004 and ...
MND NewsWire - 1:40PM
Responses to the most recent National Housing Survey conducted by Fannie Mae show Americans continue to be cautious in their appraisals of the housing recovery and of their own financial ...
MND NewsWire - 9:43AM
The Department of Housing and Urban Development (HUD) announced late Friday that the maximum loan eligible for a Federal Housing Administration (FHA) guarantee will be reduced from ...
MND NewsWire - 4:58PM
The Departments of Housing and Urban Development and Treasury issued their joint Housing Scorecard on Monday. The Scorecard summarizes information on home sales, mortgage originations ...
MBS Live Chat - 12:03PM
"anyone in a market where FHA loan limits are going down 100k+?..."
MBS Live Chat - 12:04PM
"Clayton Sandy (12/8/13 11:06PM): I've got 5 borrowers right now that will be affected by it. Salt Lake County goes from $729K to $300?? How does that make any sense? I'll have to order case numbers and hope they don't cancel them before the homes are complete..."
MBS Live Chat - 12:04PM
"ah I see. One of my countires was 385 and now 285 and needs 385. Boo on FHA...."
MBS Live Chat - 12:09PM
"I don't even want to think about the MIP costs for a 700K FHA loan...."
MBS Live Chat - 12:11PM
"We are currently at $729k in Salt Lake County. Going down to $300k...how does that even make sense?..."
MBS Live Chat - 12:41PM
"northern VA and DC metro area got dropped to 625,500..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.52% -0.03
15 Yr FRM 3.53% -0.04
FHA 30 Year Fixed 4.25% +0.00
Jumbo 30 Year Fixed 4.47% -0.02
5/1 Yr ARM 3.23% -0.03
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 4.51% 0.38 +0.03
15 Yr. Fixed 3.56% 0.32 +0.04
30 Yr. Jumbo 4.49% 0.24 +0.01
30 Yr. FHA 4.17% 0.36 +0.01
5/1 ARM 3.09% 0.28 -0.09
Freddie Mac **
30 Yr. Fixed 4.46% 0.50 +0.17
15 Yr. Fixed 3.47% 0.40 +0.17
1 Yr. ARM 2.59% 0.40 -0.01
5/1 Yr. ARM 2.99% 0.40 +0.05
* 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 95.80 +0.17
30YR FNMA 3.5 100.27 +0.16
30YR GNMA 3.0 96.92 +0.13
30YR GNMA 3.5 101.38 +0.14
15YR FNMA 3.0 102.75 +0.09
15YR FNMA 2.5 99.59 +0.08
Treasuries
Yield Change
2 YR 0.3017% -0.0039
5 YR 1.4888% -0.0015
10 YR 2.8480% -0.0109
30 YR 3.8740% -0.0171
Prices as of: 12/9/2013 4:30PM 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.
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