Daily Newsletter: Mortgage Rate Momentum Shifts; Delinquencies at 6-yr Low; Drop in Affordability Pauses in California

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30 Year Fixed 4.42%   +0.06 15 Year Fixed 3.43%   +0.04 10YR Treasury 2.76%   +0.0348 FNMA 30YR 3.5 100.55   -0.66 FNMA 15YR 2.5 102.80   -0.42 View Today's Rates

Wednesday February 12, 2014 Mortgage Rate Watch - 3:35PM Mortgage Rates Convincingly Higher, Momentum Shifts Mortgage rates moved higher at their fastest pace in more than a month today, confirming yesterday's shift in momentum. While this isn't an outright guarantee that rates continue higher ... MND NewsWire - 3:18PM Mortgage Delinquencies Below 4% For First Time in 6 Years For the first time in six years the mortgage delinquency rate has dropped below 4 percent TransUnion said on Wednesday. Nationally, 3.85 percent of mortgages were past due for 60 days ... MND NewsWire - 2:40PM Plummeting Affordability in California takes a Breather What passes as a measure of home affordability in California may stagger some who live in other parts of the country and only about a third of the households in the state can meet the ... Pipeline Press - 10:20AM 3% Fee Clarification; State Compliance News Including Washington's Unusual Requirements Atlanta has too much snow and slush, and is staying home. California, however, is in the midst of a terrible drought - and it is only February. Thanks to James Hedvall for sending along ... Mortgage Applications Drift Lower as Rates Pull Back MBS MID-DAY: Bond Markets Weaker; Pressure from Europe and Auctions Home Prices Growing Slower; Declining in some Spots Latest Video Santelli's 10-year auction grade: B- Investors slow down home buying Fed still expanding balance sheet: Pro More News from 'Around the Web' www.americanbanker.com - 4:08PM Senate Banking GSE Reform Bill Nears Completion www.npr.org - 4:04PM With Senate's OK, Debt Limit Bill Will Head To White House Market Watch - 4:03PM Senate Banking postpones Yellen hearing Reuters - 2:57PM U.S. budget deficit smaller than expected in January CNBC - 2:57PM Gundlach: QE will not end in 2014 CNBC - 1:59PM If investors bail on housing, what then? DataQuick - 1:57PM January SoCal Home Sale Press Release transunion.mwnewsroom.com - 1:57PM TransUnion: Mortgage Delinquency Rate Drops Below 4% -- First Time Since 2008 Market Watch - 11:56AM Bond Report: Treasurys fall ahead of 10-year note auction Reuters - 11:56AM Jobless drop will force Fed to more 'traditional' policy: Bullard www.cfpbmonitor.com - 11:32AM Consumer Advisory Board to meet on February 27 NY Fed - 11:32AM New York Fed Finds Growing Evidence of More Positive Small Business Lending Environment Market Watch - 10:37AM Fed's Bullard: Optimism not deterred by weak data CNBC - 10:36AM Home Depot plans 80,000 new hires CNBC - 8:41AM Encouraging signs from housing CNN - 8:40AM For sale: Al Capone's former Miami home for $8.5 million CNBC - 8:39AM US mortgage applications fall in latest week: MBA CNBC - 8:39AM US stocks set for further Yellen boost CNBC - 8:39AM You may fly on a Made-in-China aircraft sooner than you think Bloomberg - 12:42AM Homebuyers Get Break as Loan Rates Defy Fed Tapering: Mortgages - Bloomberg Today's Comments MBS Live Chat - 1:24PM "MG, are you surprised to see the 10 year at 2.77?..." MBS Live Chat - 1:24PM "Seems like week ago we have so much momentum in the other direction..." MBS Live Chat - 1:27PM "Matthew Graham (2/5/14 5:30PM): the approach to this NFP seems fairly uncomplicated to me. Sure, there are those in the market that think the correction has farther to travel before being complete, but the disgruntled majority is aching for a safe entry point back on the road to higher rates. That either..." MBS Live Chat - 1:30PM "oh, this one was even better: Matthew Graham (1/31/14 8:58AM): I'll just say this: from the beginning of the more determined move higher in rate into the end of 2013, several of us have said a pronounced correction could target 2.55-2.60, and even 2.47 in an extreme case. Now that it's happening, let..." MBS Live Chat - 1:32PM "and the scary one: Matthew Graham (2/10/14 4:18PM): but I will say that if we hit 2.5 and bounce, it would be taken as that "epic positional reload" thing that I've mentioned a few times now--not a sign of ongoing strength...." MBS Live Chat - 1:33PM "scary because 2.56 may end up being the trigger for the reload. 2.50 or lower would have left no doubt...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.42% +0.06 15 Yr FRM 3.43% +0.04 FHA 30 Year Fixed 4.00% +0.00 Jumbo 30 Year Fixed 4.33% +0.06 5/1 Yr ARM 3.24% -0.01 Current Mortgage Rates » What are best-execution rates? 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 4.47% 0.25 -0.05 15 Yr. Fixed 3.53% 0.28 -0.06 30 Yr. Jumbo 4.42% 0.11 -0.05 30 Yr. FHA 4.12% 0.15 -0.06 5/1 ARM 3.15% 0.41 -0.10 Freddie Mac ** 30 Yr. Fixed 4.23% 0.70 -0.09 15 Yr. Fixed 3.33% 0.70 -0.07 1 Yr. ARM 2.51% 0.50 -0.04 5/1 Yr. ARM 3.08% 0.50 -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 96.16 -0.64 30YR FNMA 3.5 100.55 -0.66 30YR GNMA 3.0 98.13 -0.64 30YR GNMA 3.5 101.97 -0.63 15YR FNMA 3.0 102.80 -0.42 15YR FNMA 2.5 99.84 -0.39 Treasuries Yield Change 2 YR 0.3430% +0.0079 5 YR 1.5624% +0.0280 10 YR 2.7607% +0.0348 30 YR 3.7201% +0.0303 Prices as of: 2/12/2014 4:23PM 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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