Wednesday, July 16, 2014

Daily Newsletter: Smarting over Fines, Chase will Reduce FHA Lending; Mortgage App Volume Falls; Builder Confidence Improves; Rates Unchanged

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30 Year Fixed
4.21%   +0.01
15 Year Fixed
3.35%   +0.01
10YR Treasury
2.53%   -0.0181
FNMA 30YR 3.5
102.09   +0.02
FNMA 15YR 2.5
103.22   -0.28
Wednesday July 16, 2014
MND NewsWire - 11:41AM
JP Morgan Chase appears to be questioning the wisdom of remaining an FHA lender. The company's Chairman and CEO, Jamie Dimon, made critical comments about the FHA program during a conference ...
MND NewsWire - 8:48AM
The Mortgage Bankers Association's (MBA) Market Composite Index notched another decline during the week ended July 11, the fifth straight down week for the index which measures the ...
MND NewsWire - 11:38AM
Homebuilder confidence in the market for new homes crossed into positive territory in July, the first time the measure has been above the crucial 50 mark since January. The National ...
Mortgage Rate Watch - 3:16PM
Mortgage rates were just barely higher today on average. The movement was so small that several lenders were actually unchanged or slightly better. This is consistent with an ongoing ...
MBS Live Chat - 10:31AM
"RTRS - BANK OF AMERICA IS OFFERING $13 BILLION, TO BE PAID IN BOTH CASH AND CONSUMER RELIEF, BUT DOJ IS ASKING FOR BILLIONS MORE - WSJ CITING SOURCES BAC.N..."
MBS Live Chat - 10:33AM
"I like the part about money going to consumers. Especially the victims of robosigning and the like..."
MBS Live Chat - 10:34AM
"robosigned or not, if you didn't pay your bills, does it matter?..."
MBS Live Chat - 10:35AM
"Some asked for mods and were told by the banks to fall behind and then they robo foreclosed on them..."
MBS Live Chat - 10:45AM
"good point Alan -- that happened to someone I know here in NJ -- 200K loan with BOA and the entire balance got dismissed. And here I am making all of my payments 7 days early on my mortgages....sheesh..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.21% +0.01
15 Yr FRM 3.35% +0.01
FHA 30 Year Fixed 3.75% +0.00
Jumbo 30 Year Fixed 4.06% +0.01
5/1 Yr ARM 3.25% +0.00
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.56% 1.13 -0.10
30 Yr. Fixed 4.37% 1.39 -0.16
MBA **
30 Yr. Fixed 4.32% 0.16 +0.04
15 Yr. Fixed 3.40% 0.22 -0.02
30 Yr. Jumbo 4.24% 0.16 -0.02
30 Yr. FHA 4.02% -0.03 +0.03
5/1 ARM 3.40% 0.22 -0.02
Freddie Mac **
30 Yr. Fixed 4.15% 0.70 +0.03
15 Yr. Fixed 3.24% 0.60 +0.02
1 Yr. ARM 2.40% 0.40 +0.02
5/1 Yr. ARM 2.99% 0.40 +0.01
* 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 98.20 +0.08
30YR FNMA 3.5 102.09 +0.02
30YR GNMA 3.0 100.34 +0.08
30YR GNMA 3.5 103.27 +0.05
15YR FNMA 3.0 103.22 -0.28
15YR FNMA 2.5 100.86 -0.39
Treasuries
Yield Change
2 YR 0.4879% +0.0080
5 YR 1.6976% +0.0067
10 YR 2.5323% -0.0181
30 YR 3.3399% -0.0308
Prices as of: 7/16/2014 4:31PM EST
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.
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