Daily Newsletter: Rates Surge Lower; Third of Sales Still All-Cash; CA Lending Challenges; New Purchase Apps Decline, Blame Schools?

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30 Year Fixed 4.11%   -0.07 15 Year Fixed 3.32%   -0.06 10YR Treasury 2.38%   -0.1049 FNMA 30YR 3.5 102.91   +0.69 FNMA 15YR 2.5 103.63   +0.45 View Today's Rates

Thursday June 11, 2015 Mortgage Rate Watch - 5:24PM Mortgage Rates Surge Lower From 8 Month Highs Mortgage rates were at their highest levels since early October as of yesterday afternoon, and in general, have been in the throes of the most aggressive move higher since the 2013 ... MND NewsWire - 3:10PM One-Third of Home Sales Still All Cash Despite over two years of declines cash sales continue to constitute more than one-third of total home sales. CoreLogic reported today that the share of those sales diminished on a ... MND NewsWire - 10:43AM New Home Purchase Apps Decline. Blame the School Year? Applications for the purchase of newly constructed homes fell in May, a decline which the Mortgage Bankers Association (MBA) attributed at least in part to seasonal factors. Data from ... Pipeline Press - 10:36AM Product Development; Training and Events; Challenges to Lending in California A recent MBA "Chart of the Week" highlights the change in the number of households by age from 2004 to 2014. Household formation was negative for households with at least one adult ... MBS MID-DAY: It's Almost Only the 3rd Worst Day of the Year for Bond Markets! MBS Day Ahead: Fireside Chat on Mid 2015 Rate Drama Latest Video How high will rates go? Fear the zombie foreclosures? Mortgage apps spike as home prices rise More News from 'Around the Web' CNBC - 5:01PM Risk looms for bond fund investors Bloomberg - 5:01PM Bond Bubble Is Fiction Like Sasquatch American Bankers Assoc. - 5:00PM Dodd-Frank Rules Continue to Restrict Mortgage Lending: ABA Survey WSJ - 3:13PM WSJ Survey: Economists Think Fed Won't Raise Rates Before September WSJ - 3:13PM WSJ Survey: Fed Forecasts for the Economy and Interest Rates Could Edge Down CNBC - 3:12PM How the Fed screwed up the bond market Calculated Risk Blog - 3:11PM The Curious Case of Existing Home Sales in the South in April CNBC - 3:11PM 'Move-up' buyers drive San Diego housing CNBC - 1:54PM Fed already 'behind the curve': Pimco CIO Bloomberg - 1:54PM Surging U.S. Property Prices Boost Americans' Home Equity CNBC - 12:29PM What the bond market is saying Calculated Risk Blog - 12:26PM Fed's Q1 Flow of Funds: Household Net Worth at Record High The Big Picture - 10:47AM GDP Growth by State CNBC - 10:45AM IMF: 'Major differences' with Greece freddiemac.mwnewsroom.com - 10:45AM Average 30-Year Fixed-Rate Mortgage Above Four Percent www.cfpbmonitor.com - 9:50AM CFPB files amicus brief in U.S. Supreme Court ECOA case WSJ - 9:47AM Draghi Says ECB Didn't Give Privileged Information to Fund Managers CNBC - 8:45AM US jobless claims up marginally, but market firming Market Watch - 8:44AM Zombie foreclosures climb in L.A. area, other major cities Reuters - 8:44AM 'Greek tragedy' needs happy ending now: EU's Moscovici Today's Rates Best Execution Rate Change 30 Yr FRM 4.11% -0.07 15 Yr FRM 3.32% -0.06 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.94% -0.05 5/1 Yr ARM 3.04% -0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.38% 1.18 +0.05 30 Yr. Fixed 3.95% 1.30 +0.04 MBA ** 30 Yr. Fixed 4.07% 0.35 +0.03 15 Yr. Fixed 3.29% 0.24 +0.03 30 Yr. Jumbo 4.06% 0.29 +0.02 30 Yr. FHA 3.83% 0.16 +0.03 5/1 ARM 3.04% 0.48 +0.05 Freddie Mac ** 30 Yr. Fixed 4.04% 0.60 +0.17 15 Yr. Fixed 3.25% 0.60 +0.17 1 Yr. ARM 2.53% 0.20 -0.06 5/1 Yr. ARM 3.01% 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 99.38 +0.84 30YR FNMA 3.5 102.91 +0.69 30YR GNMA 3.0 100.84 +0.75 30YR GNMA 3.5 103.75 +0.66 15YR FNMA 3.0 103.63 +0.45 15YR FNMA 2.5 101.19 +0.64 Treasuries Yield Change 2 YR 0.7171% -0.0119 5 YR 1.7274% -0.0596 10 YR 2.3808% -0.1049 30 YR 3.0965% -0.1191 Prices as of: 6/11/2015 4:30PM 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. © 2015 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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