Daily Newsletter: Mortgage Rates Drop Quickly to 2-Month Lows on Ukraine Turmoil; High Cost of NOT Refinancing; Amazing Geographical Differences in Affordability; QM Succeeds! (in Raising Costs, Not Much Else)

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30 Year Fixed 4.09%   -0.05 15 Year Fixed 3.25%   -0.04 10YR Treasury 2.34%   -0.0618 FNMA 30YR 3.5 102.83   +0.20 FNMA 15YR 2.5 103.59   -0.08 View Today's Rates

Friday August 15, 2014 Mortgage Rate Watch - 4:39PM Mortgage Rates Drop Quickly to 2-Month Lows on Ukraine Turmoil There were numerous headlines swirling mid-morning concerning military violence between Ukraine and Russia. Financial markets responded in a big way with stocks losing quit a bit of ... MND NewsWire - 1:34PM The High Cost of Failing to Refinance CoreLogic recently awarded its Academic Research Council Excellence Award to a study conducted by professors from three universities who looked at reasons why so many homeowners fail ... MND NewsWire - 2:46PM Amazing Differences in Affordability Depending on Geography Home prices "firmed" in several markets in the second quarter and, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), affordability ... MND NewsWire - 2:20PM QM Has Succeeded... in Raising Costs, not in Changing Business Strategies Less than a half-year after the Ability-to-Repay (ATR) and Qualified Mortgage (QM) rules took effect most lenders report little impact on their business strategies but they do anticipate ... MBS MID-DAY: Strong, Positive Move for Bond Markets Following Ukraine Headlines Another Correspondent Lender Bails; REITs Join Non-QM Fray; Rise of the Vendor MBS Day Ahead: So Far So Good, And That's All We Really Know Latest Video What we know: Reports over Russian personnel carriers Closing Bell Exchange: Bullish union for bonds Santelli Exchange: Significant breaking points More News from 'Around the Web' Calculated Risk Blog - 4:07PM Early Read on Existing Home Sales in July www.justice.gov - 3:52PM Real Estate Developer and Mortgage Broker Plead Guilty to Mortgage Fraud Scheme CNBC - 2:34PM Gundlach: 10-year could hit 2.2% WSJ - 2:32PM How Much U.S. Debt Does China Hold? The U.S. Isn't Sure WSJ - 12:44PM Kocherlakota Says Fed Still Missing Inflation, Jobs Goals Bloomberg - 12:40PM Banks Face Competition From Bonds on Landlord Financing - Bloomberg CNBC - 10:15AM Split decision: Sentiment falls as conditions rise Market Watch - 10:14AM Bond Report: Treasurys on track to rise for third straight day CNBC - 10:14AM Auto parts makers rev up July industrial production Reuters - 8:49AM U.S. producer prices moderate as gasoline tumbles CNBC - 8:49AM New York factory growth slows in Aug WSJ - 8:45AM Yellen to Turn to Labor Markets in Jackson Hole Bloomberg - 8:42AM As Climate Changes, 'Underwater Mortgage' May Take on New Meaning - Bloomberg CNBC - 12:13AM Who is right: Bond traders or stock traders? Reuters - 12:10AM Pershing Square sues U.S. over Fannie Mae, Freddie Mac www.aei.org - 12:10AM Discussing delinquent mortgage: Pinto on Fox Business' "After the Bell" Today's Comments MND NewsWire - 1:48PM "We find that extreme procrastination is a major factor. Homeowners have so much on their daily plate that the idea of having to submit a laundry list of docs to apply gets put off until either the loan officer gives up or the window of opportunity get closed again with rates. We continue to refinance..." MND NewsWire - 2:08PM "Quicken actually just cut all the pay for their employees. All disappointed again!..." MND NewsWire - 2:44PM "There's a pressure here. Regulate the points and fees while forcing an increase to operational costs. Is this an intentional squeeze designed to force lenders to exit the business? Also, the consumer gets hammered with higher costs, of which the vast majority would qualify under old and new regulations..." MND NewsWire - 3:21PM "The govt. has made the process so painful, who could blame people for not refinancing?..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.09% -0.05 15 Yr FRM 3.25% -0.04 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.95% -0.03 5/1 Yr ARM 3.19% -0.02 Current Mortgage Rates » What are best-execution rates? 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 4.35% 0.22 +0.00 15 Yr. Fixed 3.48% 0.30 -0.03 30 Yr. Jumbo 4.24% 0.19 -0.02 30 Yr. FHA 4.04% 0.03 -0.02 5/1 ARM 3.24% 0.45 -0.08 Freddie Mac ** 30 Yr. Fixed 4.12% 0.60 -0.02 15 Yr. Fixed 3.24% 0.60 -0.03 1 Yr. ARM 2.36% 0.50 +0.01 5/1 Yr. ARM 2.97% 0.50 -0.01 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 99.28 +0.30 30YR FNMA 3.5 102.83 +0.20 30YR GNMA 3.0 101.50 +0.30 30YR GNMA 3.5 104.22 +0.17 15YR FNMA 3.0 103.59 -0.08 15YR FNMA 2.5 101.27 -0.06 Treasuries Yield Change 2 YR 0.4114% -0.0044 5 YR 1.5361% -0.0330 10 YR 2.3415% -0.0618 30 YR 3.1314% -0.0619 Prices as of: 8/15/2014 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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