Daily Newsletter: Mortgage Rates Drop to 3-Month Lows Ahead of Important Data; CFPB Proposes Rule Tweaks; Construction Spending Up Less Than Expected

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30 Year Fixed 4.29%   -0.08 15 Year Fixed 3.38%   -0.04 10YR Treasury 2.62%   -0.0308 FNMA 30YR 3.5 101.83   +0.28 FNMA 15YR 2.5 103.33   +0.09 View Today's Rates

Thursday May 1, 2014 Mortgage Rate Watch - 3:12PM Mortgage Rates Drop to 3-Month Lows Ahead of Important Data Mortgage rates fell at the fastest pace in over a month today bringing them to their lowest levels since early February. The motivation for a move of this size isn't readily apparent ... MND NewsWire - 11:24AM CFPB Proposes More Mortgage Rule Tweaks The Consumer Financial Protection Bureau (CFPB) is again proposing a few minor modifications to its new mortgage rules, suggesting changes designed to eliminate hurdles some nonprofit ... MND NewsWire - 12:40PM Construction Spending Rising Slower Than Expected Overall construction spending increased slightly in March the Census Bureau said today. Combined public and private construction was at a seasonally adjusted annual rate of $942.5 billion ... Pipeline Press - 10:35AM Depository Bank Mergers; More Lender Changes Ahead? Another Non-QM Product Happy May Day! After good a good March and a decent April, mortgage banks are left wondering what May will look like. Today I travel from Chicago to Richmond, VA and then to Austin ... MBS RECAP: Decently-Sized Snowball Rally Ahead of NFP Up to Half the Population in Some States Would Rather Live Somewhere Else Latest Video Wells Fargo strategist presents scary chart What's wrong with housing? Builders missing entry-level buyers More News from 'Around the Web' rss.nytimes.com - 3:44PM Real Estate and the Recovery: Theories on Why Housing Is Still Stalled Washington Post - 3:10PM White House releases big data and privacy report CNBC - 3:10PM What may drive home prices in 25 years WSJ - 3:10PM Weak Construction Data Raises Risk of First-Quarter U.S. GDP Contraction Washington Post - 3:09PM Wonkblog: Why thousands of homeowners are getting money for mortgage abuses they never suffered CNBC - 12:52PM Home flipping's comeback wanes as price gains slow CNBC - 11:29AM What's wrong with housing? Market Watch - 11:27AM Ocwen profit falls short of estimates; shares sink PR Newswire - 11:26AM PulteGroup Home Index Survey: Americans' Appetite To Buy New Homes Increases As View On Economy Trends More Positive CNBC - 10:38AM US manufacturing churns ahead; construction gains freddiemac.mwnewsroom.com - 10:07AM Freddie Mac: Fixed Mortgage Rates Continue to Seesaw CNBC - 9:21AM New market fixation! Fed tapering 'so 2013': Pimco CNBC - 9:21AM US 1% captures greatest slice of income pie: OECD Reuters - 9:21AM Jobless claims rise unexpectedly in latest week Reuters - 9:21AM Consumer spending surges in March, boosts growth outlook Bloomberg - 9:19AM Yellen Says Fed Seeking Smarter Oversight of Community Banks - Bloomberg Federal Reserve - 8:40AM Yellen Speech: Tailored Supervision of Community Banks Bloomberg - 8:38AM Easier Homeowner Credit Compelling Wells Fargo: Mortgages - Bloomberg Market Watch - 8:37AM Yellen: More work to be done on too-big-to-fail concerns Today's Comments MBS Live Chat - 2:07PM "best rates in weeks + NFP tomorrow. Doesn't seem like much of a debate...." MBS Live Chat - 2:08PM "the snap back from here could break your neck tomorrow..." MBS Live Chat - 2:08PM "no brainer really........" MBS Live Chat - 2:08PM "Agreed, Lock em if you've got em. I f we convincingly break below 2.6 tomorrow renegotiations should be available...." MBS Live Chat - 2:09PM "well, the problem is that the past few months have seen the NFP ramp and that has been no where near the case this week, so to be the contrarian, it may very well continue tomorrow even with the big print..." MBS Live Chat - 2:10PM "Def, a good day to lock. NFP beats tomorrow the selling should be worse as they've been banking this week...." MBS Live Chat - 2:10PM "but each day has been a good day to lock only followed by a better day the next..." MBS Live Chat - 2:10PM "that is why i am baffled..." MBS Live Chat - 2:10PM "baffled is one thing... NFP risk is another..." MBS Live Chat - 2:11PM "Quite honestly, I do actually get a bit wary when something seems so obvious...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.29% -0.08 15 Yr FRM 3.38% -0.04 FHA 30 Year Fixed 3.95% -0.05 Jumbo 30 Year Fixed 4.03% -0.09 5/1 Yr ARM 3.25% +0.04 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 97.80 +0.33 30YR FNMA 3.5 101.83 +0.28 30YR GNMA 3.0 99.73 +0.33 30YR GNMA 3.5 103.09 +0.28 15YR FNMA 3.0 103.33 +0.09 15YR FNMA 2.5 100.73 +0.14 Treasuries Yield Change 2 YR 0.4104% -0.0039 5 YR 1.6594% -0.0180 10 YR 2.6151% -0.0308 30 YR 3.4107% -0.0469 Prices as of: 5/1/2014 4:21PM 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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