Daily Newsletter: Biggest Drop in Delinquencies in 3 Years; Originations Suffering; Redefining 'Shadow Inventory'; Rates Rise Slightly

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30 Year Fixed 4.26%   +0.02 15 Year Fixed 3.37%   +0.02 10YR Treasury 2.61%   +0.0234 FNMA 30YR 3.5 101.91   -0.08 FNMA 15YR 2.5 103.38   +0.03 View Today's Rates

Monday May 5, 2014 MND NewsWire - 12:06PM Biggest Drop in Delinquencies in 3 Years; Originations Suffering Mortgage originations are at their lowest level in nearly 10 years Black Knight Financial Services said today. Mortgage originations fell to 238,000 in February, the last month for ... MND NewsWire - 3:10PM Giving New Meaning to "Shadow Inventory" Since the beginning of the housing crisis in 2008 housing experts have cited concern over the "Shadow Inventory" and the pitfalls it could present to any recovery of the housing market ... Mortgage Rate Watch - 3:35PM Mortgage Rates Rise Meagerly from 6 Month Lows Mortgage rates move up just slightly today, after hitting the lowest levels in 6 months at the end of last week. Some lenders who didn't get too aggressive with Friday's improvements ... Pipeline Press - 9:39AM Mel Watt to Speak on GSEs; MBS Issuance; What Recent Earnings Tell Us Let's see...10-year rates are close to 6-month lows, Fannie 3.5% MBS prices are at a 6-month high, yet the refinancing index is at a 6-year low. Has nearly everyone who could refinance ... MBS Week Ahead: Limited Economic Calendar Leaves Focus on Geopolitics and Range-Breaking Attempts MBS MID-DAY: Holding Moderate Losses After ISM Data Latest Video New way to sell high-end real estate Pisani's market: What's going on with bond yields? Santelli Exchange: Housing defines job quality More News from 'Around the Web' CNBC - 3:35PM Gundlach: Odds rise that yields could see lows The Huffington Post - 3:32PM Default Mode: How Ocwen Skirts California's Mortgage Laws Market Watch - 3:27PM Banks hold line on mortgage loans: Fed survey CNBC - 1:45PM Yellen's challenge: Explaining the vexing economy CNBC - 1:45PM Realogy's ugly Q1 can't all be blamed on prices Market Watch - 1:44PM Gundlach: Short homebuilders on dour housing view CNBC - 1:03PM 4 percent bandwagon lures economists Reuters - 12:07PM JPMorgan $280 million mortgage accord gets preliminary court approval Reuters - 11:21AM U.S. attorney general says banks may face criminal cases soon CNBC - 11:20AM The boom in $100 million home sales National Housing Conference - 10:52AM The challenge of housing affordability is evident across a wide range of households Reuters - 10:18AM U.S. service sector growth accelerates in April: ISM survey WSJ - 9:45AM Home Price Gains Are Not Boosting Borrowing WSJ - 9:45AM New Foreclosures Fall to Lowest Level Since 2006 CNBC - 9:41AM US stocks open lower; sentiment hit by Pfizer results, China PMI www.gallup.com - 8:49AM Consumer Spending in April Healthy, but Flat CNBC - 8:28AM US bonds creep higher on Ukraine-Russia concerns Today's Comments MBS Live Chat - 3:09PM "Just spoke with borrower who came across listing in which listing agent requires buyer to use listing agents preferred lender - is this a respa violation?..." MBS Live Chat - 3:09PM "You cannot require them to use a lender. You can however require them to get pre-approved by a preferred lender..." MBS Live Chat - 3:33PM "I believe its legal. Builders do it all the time...." MBS Live Chat - 3:33PM "a buyer can not be required to use any specific lender, just like title insurance, homeowners insurance, or alike...." MBS Live Chat - 3:33PM "No way it is legal for a Realtor to force them to use a lender..." MBS Live Chat - 3:36PM "its perfectly acceptable for sellers to require a prequal from their preferred lender, or in the case of a REO, from their mortgage company..." MBS Live Chat - 3:37PM "Builders only require the use of their lender (or title company) in order to receive the benefits of closing costs assistance, etc. Seller can do the same. Can't outright require the use of a particular lender...." MBS Live Chat - 3:01PM "correct. Not from the friendly builder or home seller who is just generous in nature...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.26% +0.02 15 Yr FRM 3.37% +0.02 FHA 30 Year Fixed 3.95% +0.05 Jumbo 30 Year Fixed 4.02% +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 3.80% 1.10 +0.13 30 Yr. Fixed 4.67% 1.44 +0.13 MBA ** 30 Yr. Fixed 4.49% 0.38 +0.00 15 Yr. Fixed 3.53% 0.31 -0.02 30 Yr. Jumbo 4.37% 0.14 -0.04 30 Yr. FHA 4.17% 0.10 -0.03 5/1 ARM 3.26% 0.35 +0.10 Freddie Mac ** 30 Yr. Fixed 4.29% 0.70 -0.04 15 Yr. Fixed 3.38% 0.60 -0.01 1 Yr. ARM 2.45% 0.50 +0.01 5/1 Yr. ARM 3.05% 0.40 +0.02 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 97.88 -0.08 30YR FNMA 3.5 101.91 -0.08 30YR GNMA 3.0 99.78 -0.08 30YR GNMA 3.5 103.14 -0.08 15YR FNMA 3.0 103.38 +0.03 15YR FNMA 2.5 100.81 +0.03 Treasuries Yield Change 2 YR 0.4225% -0.0039 5 YR 1.6791% +0.0148 10 YR 2.6077% +0.0234 30 YR 3.4058% +0.0414 Prices as of: 5/5/2014 4:17PM 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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