Daily Newsletter: Wells, Others Gear up For Non-QM; CFPB Fact and Fiction; Fee Hikes Officially Delayed; Rates Snap Back Higher

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30 Year Fixed 4.62%   +0.03 15 Year Fixed 3.64%   +0.03 10YR Treasury 2.99%   +0.0521 FNMA 30YR 3.5 99.52   -0.39 FNMA 15YR 2.5 102.03   -0.31 View Today's Rates

Wednesday January 8, 2014 MND NewsWire - 1:56PM Wells and Others Gear up For Non-QM Lending With new rules defining Qualified Mortgages (QM) slated to kick in on Friday at least two lenders have indicated they will make room for loans that don't quite fit the government mandated ... MND NewsWire - 1:51PM CFPB Separates Fact from Fiction on New Mortgage Rules With the January 10 effective date closing in the Consumer Financial Protection Bureau (CFPB) is reminding consumers and lenders of the numerous materials and resources it has available ... MND NewsWire - 12:41PM Many Borrowers Saving 0.375% as FHFA Officially Delays Fee Hikes Two days after being sworn in as the first Senate-confirmed Director of the Federal Housing Finance Agency (FHFA), Mel Watt made good on his December 20th promise to postpone the scheduled ... Mortgage Rate Watch - 4:32PM Mortgage Rates Back up to Monday's Levels Mortgage rates moved higher today, perfectly erasing yesterday's solid gains on average. Movement continues to be only moderate in the big picture and hasn't yet affected the most prevalently ... Pen Fed Members to Lower Rates With no Refi; Wells Creates Portfolio Retention SWAT Team in Response to QM Mortgage Applications Rise Just Slightly from 12 Year Lows MBS RECAP: Bonds Weaker in the AM; Sideways in the PM Mortgage Credit Easiest in 3.5 Years, Consumer Attitudes Improve -Fannie Housing Survey Latest Video Strong ADP points to upbeat jobs report Fed minutes breakdown Institutional investors buy foreclosures More News from 'Around the Web' Market Watch - 4:10PM 10-year auction sees first 3% yield since May 2011 WSJ - 4:09PM Consumer Debt Grows at Slowest Pace in 6 Months WSJ - 4:07PM Banks Got More Optimistic 'Stress Test' Results Than Fed Bloomberg - 4:07PM Consumer Credit in U.S. Rose in November on Non-Revolving Debt - Bloomberg WSJ - 4:06PM Forward Guidance: Fed Sticking to Guideposts Bloomberg - 2:47PM JPMorgan, UBS Said to Be Among Banks in Mortgage Probe - Bloomberg CNBC - 2:47PM Breaking and entering: Housing's big business Google News - 2:37PM Realtors® Support FHFA Decision to Delay Fannie, Freddie Fee Increases WSJ - 2:36PM Key Passages in Fed Minutes: Consensus on QE, Focus on Bubbles CNBC - 12:35PM Stronger jobs report seen encouraging Fed taper CNN - 10:59AM Investors cautious ahead of Fed minutes WSJ - 10:59AM Central Station: Fed Minutes to Show Convergence on Taper FHFA - 10:02AM FHFA Directs Fannie Mae and Freddie Mac To Delay Guarantee Fee Changes blog.redfin.com - 9:59AM Redfin: Home Demand Tumbles in December CNBC - 9:58AM Polar vortex puts chill on US economy Bloomberg - 8:36AM Wells Fargo Creates Swat Team to Keep Loans Inhouse: Mortgages - Bloomberg CNBC - 8:33AM Banks face new mortgage probe: Report Today's Comments MND NewsWire - 12:19AM "The funny thing is the CFPB offered the industry several opportunities to provide input and variations of the disclosures, and I don't recall seeing any options offered (by myself or anyone in the industry) that simply addressed the over riding concern of what was in the best interest of protecting consumers..." MBS Live Chat - 1:33PM "I feel like this recovery euphoria is similar to the "green shoots" zeitgeist of our recent past...." MBS Live Chat - 2:00PM "RTRS- FED MINUTES SHOW MANY FOMC MEMBERS WANTED TO 'PROCEED CAUTIOUSLY' IN FIRST CUT TO QE; USE 'MEASURED STEPS'..." MBS Live Chat - 2:03PM "Hodges wins with his uneventful call. Nothing new here...." MBS Live Chat - 2:07PM "I thought I read this morning: "First thing's first: FOMC Minutes probably aren't quite as serious as normal."..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.62% +0.03 15 Yr FRM 3.64% +0.03 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.55% +0.03 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 4.53% 0.80 +0.05 15 Yr. Fixed 3.55% 0.70 +0.03 1 Yr. ARM 2.56% 0.50 +0.00 5/1 Yr. ARM 3.05% 0.40 +0.05 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 95.03 -0.42 30YR FNMA 3.5 99.52 -0.39 30YR GNMA 3.0 96.70 -0.39 30YR GNMA 3.5 100.98 -0.34 15YR FNMA 3.0 102.03 -0.31 15YR FNMA 2.5 98.84 -0.38 Treasuries Yield Change 2 YR 0.4290% +0.0321 5 YR 1.7668% +0.0878 10 YR 2.9912% +0.0521 30 YR 3.8958% +0.0118 Prices as of: 1/8/2014 4:43PM 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. 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