Daily Newsletter: Mortgage Rates Drop Abruptly; Approaching 4%; Only 2 in 5 Housing Markets Improving; Mortgage Apps Stagnant Despite Rate Drop

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30 Year Fixed 4.08%   -0.08 15 Year Fixed 3.25%   -0.04 10YR Treasury 2.44%   -0.0747 FNMA 30YR 3.5 103.23   +0.55 FNMA 15YR 2.5 104.11   +0.25 View Today's Rates

Wednesday May 28, 2014 Mortgage Rate Watch - 3:28PM Mortgage Rates Drop Abruptly; Now Approaching 4% After tying the record for most consecutive days with no change, mortgage rates moved significantly lower today . The significance isn't due to the size of the move--as far as day to ... MND NewsWire - 12:02PM Only 2 in 5 Housing Markets are Improving -Freddie Mac Freddie Mac's new Multi-Indicator Market Index (MiMi) continues to show a weak housing market overall. The national MiMi value is flat compared to last month and has improved only slightly ... MND NewsWire - 8:48AM Lower Rates Fail to Sustain Mortgage App Winning Streak Despite interest rates falling to levels last seen almost a year ago, mortgage application volume retreated slightly after three weeks of iimprovement. The Mortgage Bankers Association ... MBS Commentary - 11:57AM MBS MID-DAY: Bonds End 2 Weeks of Consolidation... With a Massive Rally Things had been pretty tame for MBS and Treasuries after the last round of excitement ended on May 15th. That was when the last major rally ended and when bond markets began consolidating ... RBS Shrinking Mortgage Biz; Bank M&A; MBA's New Compliance Class; Reverse Mortgage Update MBS Day Ahead: Still a Potentially Big Day for Bond Markets Despite Empty Calendar Three Data Sets Concur on Continuing but Slower Price Increases Latest Video Santelli: Rally in Treasurys misunderstood Santelli: Treasurys predict less global growth Toll Bros CEO: Confident in housing comeback More News from 'Around the Web' DataQuick - 4:31PM April Las Vegas Region Home Sales Press Release www.cfpbmonitor.com - 4:31PM House holds second hearing on discrimination at the CFPB CNBC - 4:31PM Staying classy: San Diego real estate heats up Calculated Risk Blog - 1:50PM Average 30 Year Fixed Mortgage Rates decline to 4.08% CNBC - 1:19PM Fischer sworn in as Fed board member Market Watch - 1:19PM Treasury sells 5-year notes at lowest yield since Nov. Bloomberg - 1:13PM PNC's Demchak Sees Mortgage Production Lowest Since 1990s - Bloomberg Bloomberg - 10:58AM Growing Mortgage Lender Sees End Game as Loan 'Middleman' - Bloomberg content.govdelivery.com - 10:58AM FDIC-Insured Institutions Earned $37.2 Billion in the First Quarter of 2014 CNBC - 10:56AM Bond yields hit 2014 lows Bloomberg - 10:07AM Nasdaq Goes to Light Speed With Treasuries Trading - Bloomberg Market Watch - 10:07AM Bond Report: 10-year Treasury yield sinks to lowest in 11 months freddiemac.mwnewsroom.com - 10:07AM Housing Markets Stalling freddiemac.mwnewsroom.com - 10:04AM Freddie Mac Issues Monthly Volume Summary for April 2014 www.aei.org - 10:01AM Get ready for the subprime mortgage crack-up 2.0 Bloomberg - 8:45AM Yellen Concerned by Housing Slowdown She Has Scant Power to Cure - Bloomberg CNBC - 8:44AM Toll Brothers profit more than doubles CNBC - 8:42AM Fed's Lockhart: No rush to raise rates Reuters - 8:41AM Stock futures tick up, S&P on track to extend record CNBC - 8:40AM Lower rates fail to boost mortgage activity Today's Comments MBS Live Chat - 1:47PM "Keep Going Baby ! When is it an official FACE MELTER?..." MBS Live Chat - 1:47PM "feels a little toasty now, TQ...." MBS Live Chat - 1:48PM "24 ticks according to the by-laws TQ..." MBS Live Chat - 2:23PM "based on the "bylaws" looks like the 10 year is a "face melter"..." MBS Live Chat - 3:12PM "Hi MG-are bond yields pointing to recession? What is causing this run on bonds?..." MBS Live Chat - 3:17PM "TB, I think Eurozone QE potential next week is one of the bigger considerations, along with an ongoing pain trade for all those who bet on higher rates in 2014. I.E. "forced short-covering" of an exceptionally large short base. There are economic arguments as well, and while I'm personally generally..." MBS Live Chat - 3:24PM "repricing growth expectations..." MBS Live Chat - 3:27PM "maybe, but what's the baseline? In a bond market that's just lived through 2008-2013, how can we even be sure which trading levels line up with which levels of growth? It's not the same environment that it ever was (?same as it ever was?? answer: no). So does 2.25% = growth pessimism or is it the more..." MBS Live Chat - 3:34PM "Maybe QE has messed up the pricing mechanism in the markets to the point where we simply can't make any rational conclusions anymore...." MBS Live Chat - 3:34PM "MG- as always this site has more useful and pertinent info than any talking heads on tv..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.08% -0.08 15 Yr FRM 3.25% -0.04 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.90% -0.06 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 4.31% 0.15 -0.02 15 Yr. Fixed 3.42% 0.06 -0.01 30 Yr. Jumbo 4.23% 0.16 -0.01 30 Yr. FHA 4.04% -0.45 -0.02 5/1 ARM 3.13% 0.19 -0.01 Freddie Mac ** 30 Yr. Fixed 4.14% 0.60 -0.06 15 Yr. Fixed 3.25% 0.50 -0.04 1 Yr. ARM 2.43% 0.40 +0.00 5/1 Yr. ARM 2.96% 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 99.20 +0.67 30YR FNMA 3.5 103.23 +0.55 30YR GNMA 3.0 100.95 +0.63 30YR GNMA 3.5 104.22 +0.48 15YR FNMA 3.0 104.11 +0.25 15YR FNMA 2.5 101.78 +0.39 Treasuries Yield Change 2 YR 0.3711% +0.0206 5 YR 1.4812% -0.0478 10 YR 2.4431% -0.0747 30 YR 3.2925% -0.0708 Prices as of: 5/28/2014 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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