Daily Newsletter: Mortgage Rates Improve; Home Sales Tank, but not in California; Inventory and Prices Surge

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30 Year Fixed 4.43%   -0.05 15 Year Fixed 3.49%   -0.03 10YR Treasury 2.69%   -0.0273 FNMA 30YR 3.5 101.09   +0.27 FNMA 15YR 2.5 102.97   +0.22 View Today's Rates

Wednesday April 23, 2014 Mortgage Rate Watch - 3:14PM Mortgage Rates Erase 2 Days of Weakness Mortgage rates moved lower at a healthy pace today, more than erasing the past two days of weakness, but leaving most of last Thursday's weakness intact. Some of the gains were attributable ... MND NewsWire - 12:15PM Home Sales Tank; Inventories and Prices Surge New homes sales in March were down 14.5 percent from sales in February to a seasonally adjusted annual rate of 384,000. The New Residential Sales report issued today by the U.S. Census ... MND NewsWire - 1:26PM California Pending Sales Surge; Short Sales Lowest since 2008 California appears to be gearing up for a strong spring market according to pending home sales figures released today by the California Association of Realtors® (C.A.R.). The group ... MND NewsWire - 9:24AM Mortgage Apps Decline; Loan Amounts hit Record High The Mortgage Bankers Association (MBA) said the average size of a purchase mortgage loan reported by respondents to its most recent Weekly Mortgage Applications was $280,500, the highest ... Number of Banks is Declining; New Interest in Condo Loans; Existing Home Sales Numbers Dissected Housing Market Improving at Slower Pace, but There's a Catch MBS MID-DAY: Bond Markets Stronger After New Home Sales Data Latest Video Sticker shock slams new home sales Santelli Exchange: Housing recovery & interest rates March new home sales drop 14.5% More News from 'Around the Web' Bloomberg - 2:07PM Rising Home Prices Crack Foundation of U.S. Real-Estate Recovery WSJ - 1:29PM Why the Housing Market Has Slowed CNBC - 1:28PM Why didn't home sales slam stocks? WSJ - 1:27PM Why Credit Is Key for the Housing Recovery CFPB - 12:05PM CFPB: Take more control over the mortgage closing process with technology rss.nytimes.com - 11:32AM Everyday Economics: Piketty's Book on Wealth and Inequality Is More Popular in Richer States CNBC - 11:27AM Don't be fooled by housing-finance reform lies freddiemac.mwnewsroom.com - 10:31AM More Than Half of States Still Show Improving Housing Markets CNBC - 10:14AM No deal! New home sales swoon in recovery setback www.aia.org - 8:21AM Architecture Billings Index Mired in Slowdown Reuters - 8:17AM Futures flat after six straight days of gains CNBC - 7:42AM Mortgage activity drops, but average loan at record CNBC - 7:42AM US bonds steady ahead of $35 billion auction Today's Comments MBS Live Chat - 12:43PM "his W2 income isn't guaranteed either..." MBS Live Chat - 12:43PM "Develop an average income from the last two years (according to the Variable Income section of B3-3.1-01, General Income Information), and use the averaged amount as part of the borrower's qualifying income as long as the borrower provides evidence that he or she owns additional property or assets that..." MBS Live Chat - 12:34PM "So, does anyone know where I can find Freddie's stance on Stock Options? I have scouored the UW guide and can;t see it anywhere...." MBS Live Chat - 12:36PM "Not sure about Freddie, Chip.....but Fannie does not allow...." MBS Live Chat - 12:42PM "search under capital gains..." MBS Live Chat - 12:44PM "It's not capital gains though IRA. He works for Starbucks and gets 7% of his salary in Starbucks stock..." MBS Live Chat - 12:46PM "you mean he gets assets..." MBS Live Chat - 12:46PM "yes..." MBS Live Chat - 12:47PM "right, but its not income. so wouldnt you just follow any asset for income guideline?..." MBS Live Chat - 12:59PM "If it's on his W2's, you have a history, and you can get continuance verified I would go to battle on that one...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.43% -0.05 15 Yr FRM 3.49% -0.03 FHA 30 Year Fixed 4.00% +0.00 Jumbo 30 Year Fixed 4.21% -0.04 5/1 Yr ARM 3.23% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.80% 1.10 +0.13 30 Yr. Fixed 4.67% 1.44 +0.13 MBA ** 30 Yr. Fixed 4.49% 0.50 +0.02 15 Yr. Fixed 3.55% 0.33 +0.01 30 Yr. Jumbo 4.41% 0.34 +0.02 30 Yr. FHA 4.20% 0.41 +0.06 5/1 ARM 3.16% 0.36 +0.01 Freddie Mac ** 30 Yr. Fixed 4.27% 0.70 -0.07 15 Yr. Fixed 3.33% 0.60 -0.05 1 Yr. ARM 2.44% 0.50 +0.03 5/1 Yr. ARM 3.03% 0.50 -0.06 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 97.05 +0.27 30YR FNMA 3.5 101.09 +0.27 30YR GNMA 3.0 98.91 +0.30 30YR GNMA 3.5 102.38 +0.25 15YR FNMA 3.0 102.97 +0.22 15YR FNMA 2.5 100.30 +0.25 Treasuries Yield Change 2 YR 0.4418% +0.0344 5 YR 1.7145% -0.0215 10 YR 2.6878% -0.0273 30 YR 3.4685% -0.0266 Prices as of: 4/23/2014 4:25PM 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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