Daily Newsletter: Mortgage Applications Bounce Back; Rates Higher Today, but Still Down This Week

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30 Year Fixed 4.53%   +0.03 15 Year Fixed 3.53%   +0.03 10YR Treasury 2.89%   +0.0185 FNMA 30YR 3.5 100.02   -0.09 FNMA 15YR 2.5 102.28   -0.09 View Today's Rates

Wednesday January 15, 2014 MND NewsWire - 9:13AM Mortgage Applications Bounce Back After just barely moving off 12 year lows in the previous week, Mortgage Applications bounced back in the first full week after the holiday season, increasing 11.9 percent on a seasonally ... Mortgage Rate Watch - 4:03PM Mortgage Rates Higher Again; Week-Over-Week Improvement Remains Mortgage rates were higher again today, further eroding the large improvement following the weak jobs report. On a positive note, Friday's gains were so big that the week-over-week ... MND NewsWire - 1:44PM Better Oversight Needed on Distressed Property Policies The Office of Inspector General (OIG) of the Federal Housing Finance Agency (FHFA) released two reports today recommending better FHFA oversight of two aspects of Fannie Mae's management ... MND NewsWire - 4:35PM How QM Harms Homeowners -House Committee Hearing The House Financial Services Committee heard testimony from five persons, almost all representing mortgage lenders , at a hearing today entitled How Prospective and Current Homeowners ... New Forecast for 2014 Volume; Legal Notes - Why is the ACE Securities Case Important to Correspondent Buybacks? MBS Day Ahead: Light Data Calendar; Feeling Out New Range Potential Lower Margins and Higher Expenses a Common Theme in Mega-Bank Earnings Latest Video Santelli: Things getting back to normal Houzz's new focus on global growth Santelli's morning bonds: Yields are pushed up More News from 'Around the Web' Bloomberg - 4:49PM House Passes $1.1 Trillion U.S. Government Spending Bill - Bloomberg SIFMA - 4:48PM SIFMA Issues 2013 Year in Review www.gallup.com - 4:48PM More Americans Worse Off Financially Than a Year Ago S&P/Case Shiller - 3:17PM Got a Mortgage? Market Watch - 3:15PM Fed tapering won't have 'heavy' effects: Lagarde CNBC - 3:13PM Why American millionaires lag world in real estate www.justice.gov - 3:12PM Former Miami Real Estate Agents Sentenced for Roles in Multimillion-dollar Mortgage Fraud Scheme CNBC - 2:09PM Fed's Beige Book: Economy expanded at a moderate pace with some districts reporting pick-up in growth WSJ - 1:32PM Vital Signs: Were December Payrolls Really Up by 130,000? DataQuick - 1:32PM December Bay Area Home Sale Press Release WSJ - 1:31PM Fed's Evans: Economy Needs Strong Fed Support for Some Time to Come WSJ - 12:36PM Why Credit Scores Dropped on New Mortgages in 2013 Market Watch - 12:28PM The bear and bull cases for mortgage REITs in 2014 S&P/Case Shiller - 11:00AM U.S. Homebuilders Look Forward To A Favorable 2014 CNBC - 10:58AM Where the real risk is in Treasurys www.gallup.com - 10:03AM Government Itself Still Cited as Top U.S. Problem Bloomberg - 8:19AM BofA Says Fourth-Quarter Profit Quadruples as Mortgage Costs Ebb - Bloomberg CNBC - 8:15AM Mortgage applications surge on lower rates CNBC - 8:15AM Bank of America posts earnings of 29 cents a share vs. 26 cents estimate Today's Comments MND NewsWire - 12:38AM "The need for institutions to attempt to make their mortgages "Qualified Mortgages" requires careful underwriting and more unexpected documents. This will be a year of origination confusion and backlogs. Underwriters will be afraid of their own shadow. This parentalistic government, which was largely..." MBS Commentary - 7:38AM "Nice preview of the day and review of previous trading days. Cautiously optimistic about rates right now...." MND NewsWire - 8:36AM "It will be interesting to see how the Fed unwinds all of its asset purchases under QE now that we are entering a rising rate environment...." MND NewsWire - 4:17PM "Anyone know what a 'typical' pre-bubble number of underwater mortgages is? 1 million? 2 million?..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.53% +0.03 15 Yr FRM 3.53% +0.03 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.40% +0.02 5/1 Yr ARM 3.25% +0.00 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 4.72% 0.28 +0.00 15 Yr. Fixed 3.77% 0.34 +0.04 30 Yr. Jumbo 4.66% 0.12 +0.00 30 Yr. FHA 4.36% 0.15 +0.01 5/1 ARM 3.33% 0.44 +0.02 Freddie Mac ** 30 Yr. Fixed 4.51% 0.70 -0.02 15 Yr. Fixed 3.56% 0.60 +0.01 1 Yr. ARM 2.56% 0.50 +0.00 5/1 Yr. ARM 3.15% 0.40 +0.10 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 95.56 -0.19 30YR FNMA 3.5 100.02 -0.09 30YR GNMA 3.0 97.16 -0.11 30YR GNMA 3.5 101.45 +0.02 15YR FNMA 3.0 102.28 -0.09 15YR FNMA 2.5 99.20 -0.06 Treasuries Yield Change 2 YR 0.3945% +0.0123 5 YR 1.6748% +0.0266 10 YR 2.8894% +0.0185 30 YR 3.8195% +0.0178 Prices as of: 1/15/2014 4:32PM 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. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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