Daily Newsletter: Rates hit 6-Month Lows; Applications Indicate Official Buyers' Market; Survey Says: Time to Sell; Housing Reform Can-Kicking

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30 Year Fixed 4.20%   -0.04 15 Year Fixed 3.32%   -0.03 10YR Treasury 2.59%   -0.0055 FNMA 30YR 3.5 102.38   +0.28 FNMA 15YR 2.5 103.69   +0.23 View Today's Rates

Wednesday May 7, 2014 Mortgage Rate Watch - 3:15PM Mortgage Rates Push Further Into 6-Month Lows Mortgage rates continued pushing into the lowest levels in more than 6 months after a docile congressional testimony from Fed Chair Yellen this morning. Financial markets and mortgage ... MND NewsWire - 8:41AM For Mortgage Apps, It's Now Officially a Buyer's Market It officially became a buyers' market in mortgage applications during the week ended May 2. The Mortgage Bankers Association said that applications for home purchase mortgages dominated ... MND NewsWire - 2:39PM More Americans Think it's Time to Sell -Survey Fannie Mae is taking an upbeat view of the housing market over upcoming months because of the general improvement in Americans' outlook revealed in its most recent National Housing ... MND NewsWire - 1:30PM Kicking the Can; Housing Reform Given Little Shot at Success Sources say that the Senate Banking Committee will take up discussions of S 1217, yet another bill that addresses housing finance reform , sometime this week. A mark-up session scheduled ... MBS RECAP: Bond Markets Happy With Lack of Surprises From Yellen Radian to buy Clayton; Low Down Payment Loans, Expanding Guidelines on the Rise Latest Video Yellen on normalizing of interest rates Yellen cautions on housing activity Fed Chair Yellen: Inequality trend very worrisome More News from 'Around the Web' Reuters - 3:54PM U.S. consumer credit posts largest gain in a year Realtor.Org - 3:53PM FHA Premium Increases Taking Toll Reuters - 2:53PM Wells Fargo releases two new credit cards aimed at high spenders Market Watch - 2:53PM Federal student loan rates will rise to 4.66% CNBC - 2:50PM Why millenials rent: What do you think? Market Watch - 1:34PM Treasury sells 10-year at lowest yield since June www.aei-ideas.org - 12:27PM Robots rising: The jobs challenge from smart machines www.npr.org - 10:50AM Reported $147 Million Home Price Would Set New U.S. Record Reuters - 10:18AM Yellen cites housing, geo-political risk to economy Fannie Mae - 10:18AM News Release - Consumer Optimism Toward Housing ... Reuters - 9:21AM Bad weather sinks first-quarter productivity www.easyir.com - 9:15AM TransUnion: Mortgage Delinquency Rate Continues to Drop While Non-Prime Borrowers Represent Bigger Share of New Loans Reuters - 8:41AM Stock futures edge up after selloff; Yellen testimony on tap Bloomberg - 8:41AM Wells Fargo's Mortgage Pain Proves Salve for Bond Market - Bloomberg CNBC - 8:36AM After lull, surge of home buyers rush for loans CNBC - 8:36AM US bond markets hinge on Yellen testimony, auction Today's Comments MBS Live Chat - 11:20AM "When the fed says no bubbles it makes me nervous...." MBS Live Chat - 11:20AM "thinking the same..." MBS Live Chat - 12:59PM "I have a borrower who bought an investment propety last Nov and another in Jan of 2014. Can that rental income be counted if they had no landlord experience prior to the 1st NOO purchase in Nov 2013?..." MBS Live Chat - 1:00PM "freddie no, i think fannie yes, Aaron..." MBS Live Chat - 1:01PM "It's a lender overlay to require landlord experience..." MBS Live Chat - 1:02PM "The other 2 properties I qualified them with full PITI on rentals so rents were not an issue..." MBS Live Chat - 1:02PM "75% of that rent applied to PITI on the properties is ABSOLUTELY income that can be used...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.20% -0.04 15 Yr FRM 3.32% -0.03 FHA 30 Year Fixed 3.75% -0.15 Jumbo 30 Year Fixed 3.98% -0.02 5/1 Yr ARM 3.21% -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 98.22 +0.23 30YR FNMA 3.5 102.38 +0.28 30YR GNMA 3.0 100.14 +0.19 30YR GNMA 3.5 103.47 +0.20 15YR FNMA 3.0 103.69 +0.23 15YR FNMA 2.5 101.09 +0.23 Treasuries Yield Change 2 YR 0.4028% -0.0197 5 YR 1.6512% -0.0279 10 YR 2.5896% -0.0055 30 YR 3.4025% +0.0146 Prices as of: 5/7/2014 4:27PM 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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