Thursday, January 23, 2014

Daily Newsletter: Existing Home Sales dip Further into One-Year Lows; Rates Snap Back to 2014 Lows; Record Distressed Sales in 2013

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30 Year Fixed
4.47%   -0.03
15 Year Fixed
3.49%   -0.03
10YR Treasury
2.78%   -0.0847
FNMA 30YR 3.5
100.66   +0.48
FNMA 15YR 2.5
102.64   +0.28
Thursday January 23, 2014
MND NewsWire - 11:51AM
December existing home sales edged up 1.0 percent to a seasonally adjusted annual rate of 4.87 million from 4.82 million in November and were 0.6 percent below the 4.90 million unit ...
Mortgage Rate Watch - 3:21PM
Mortgage rates snapped quickly lower today, matching or beating the best levels seen so far in 2014. Weakness over the past two days threatened to carry rates out of the recently narrow ...
MND NewsWire - 9:59AM
Sales of distressed properties made up a larger share of home sales in 2013 than in 2012 RealtyTrac said today. Short sales and sales of bank-owned real estate (REO) together made up ...
Pipeline Press - 10:56AM
All is not bleak in residential lending. Note that yesterday the MBA reported applications rose 4.7% last week versus +11.9% the previous week. Yes, versus a year ago applications are ...
MBS Live Chat - 1:21PM
"Hugh, you are right on the money for Florida....but take a look at Wisconsin.....59.8%? Wow, the snowbirds there already have their home there...."
MBS Live Chat - 1:26PM
"Right. The Wisconsin surprised me. I expected to see Nevada and Arizona in the top 5...."
MBS Live Chat - 1:26PM
"I think part of it may be risk averse retired folks who are getting zilch on their safe investments, are leery of the stock market and think it makes sense to just go with no debt...."
MBS Live Chat - 1:49PM
"Was that 2.77 break, pretty significant?? Where do we go from here?..."
MBS Live Chat - 1:50PM
"the break was at 2.82..."
MBS Live Chat - 1:51PM
"this is follow-through. 2.75 is a relatively much larger inflection point than 2.82, so we'll see how yields behave when/if they make it that far...."
MBS Live Chat - 2:03PM
"I THINK (could be wrong, but haven't checked yet), that this instance of Jobless Claims covers the NFP survey week. BLS states that the establishment survey typically covers the week that contains the 12th of the month, and last Sunday was the 12th, and today's claims release is for last week, so......"
MBS Live Chat - 2:04PM
"Isn't it also a spook from corporate earnings? I'd figure they'd just keep lowering estimates to keep things moving along swimmingly...."
MBS Live Chat - 2:05PM
"certainly the stock lever is in play JA...."
MBS Live Chat - 2:04PM
"The things I learn following this chat......."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.47% -0.03
15 Yr FRM 3.49% -0.03
FHA 30 Year Fixed 4.25% +0.00
Jumbo 30 Year Fixed 4.35% -0.03
5/1 Yr ARM 3.21% -0.02
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.61% 1.06 -0.10
30 Yr. Fixed 4.48% 1.36 -0.10
MBA **
30 Yr. Fixed 4.57% 0.18 -0.09
15 Yr. Fixed 3.68% 0.29 -0.04
30 Yr. Jumbo 4.57% 0.18 -0.01
30 Yr. FHA 4.24% 0.23 -0.05
5/1 ARM 3.23% 0.37 -0.05
Freddie Mac **
30 Yr. Fixed 4.39% 0.70 -0.02
15 Yr. Fixed 3.44% 0.70 -0.01
1 Yr. ARM 2.54% 0.50 -0.02
5/1 Yr. ARM 3.15% 0.50 +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 96.36 +0.53
30YR FNMA 3.5 100.66 +0.48
30YR GNMA 3.0 98.05 +0.61
30YR GNMA 3.5 102.05 +0.42
15YR FNMA 3.0 102.64 +0.28
15YR FNMA 2.5 99.66 +0.33
Treasuries
Yield Change
2 YR 0.3595% -0.0405
5 YR 1.5958% -0.0996
10 YR 2.7772% -0.0847
30 YR 3.6804% -0.0781
Prices as of: 1/23/2014 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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