Daily Newsletter: 2-Week Rate Lows: There's a Catch; Sharpest Drop Since 2011 in Construction Spending; Home Prices Too High?

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30 Year Fixed 3.70%   -0.02 15 Year Fixed 2.96%   -0.02 10YR Treasury 1.84%   -0.0069 FNMA 30YR 3.5 104.63   +0.03 FNMA 15YR 2.5 104.17   -0.05 View Today's Rates

Wednesday June 1, 2016 MND NewsWire - 9:53AM Home Prices: How High Is Too High? How high is too high? When it comes to home prices the wounds left from the Great Recession make this question an important one. Amidst that event, home prices plummeted and didn't ... MND NewsWire - 10:50AM Construction Spending Falls at Fastest Pace in 5 Years Construction spending continued to disappoint in April, but unlike in the preceding three months, residential construction also declined. The Census Bureau said that construction was ... Mortgage Rate Watch - 3:49PM Mortgage Rates at 2-Week Lows, But There's a Catch Mortgage rates fell to their lowest levels in roughly two weeks this morning. That's a seemingly positive statement, but while it's true, there are also several catches. The first is ... MND NewsWire - 8:21AM Mortgage Applications Lower Last Week, Rates Mixed Applications for mortgages slowed appreciably during the week ended May 27 and average mortgage rates scattered in all directions. The Mortgage Bankers Association (MBA) said that its ... First Mortgage Settles; Bank Manager Sentenced; Product Updates; State News: Concern in New York MBS Day Ahead: More of the Same For Bonds, But For How Long? Latest Video ISM manufacturing index: 51.3 (May) Behind the Fed's thinking Almost 7M homes at risk this hurricane season More News from 'Around the Web' www.realtor.com - 3:07PM Buyers Beware: You May Be Under Surveillance Calculated Risk Blog - 3:07PM Fed's Beige Book: "Modest economic growth" in most Districts Reuters - 3:07PM Yellen to testify on monetary policy to Senate panel on June 21 www.realtor.com - 3:07PM Apartment Complex Orders Tenants to Like Its Facebook Page, or Else… www.cfpbmonitor.com - 12:37PM House FY 2017 appropriations bill would curb CFPB authority, require another arbitration study Market Watch - 12:35PM Bond Report: Treasury yields dip as investors debate effect of a rate hike CNBC - 10:18AM ISM mfg index hits 51.3 in May; construction spending drops 1.8% in April Reuters - 9:55AM Fed swimming against global tide of easier rates Bloomberg - 8:29AM Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Market CNBC - 8:25AM 7M homes at hurricane risk: Report Today's Rates Best Execution Rate Change 30 Yr FRM 3.70% -0.02 15 Yr FRM 2.96% -0.02 FHA 30 Year Fixed 3.30% +0.00 Jumbo 30 Year Fixed 3.70% -0.02 5/1 Yr ARM 3.03% +0.03 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.37% 1.26 -0.14 30 Yr. Fixed 3.95% 1.30 -0.16 MBA ** 30 Yr. Fixed 3.82% 0.34 -0.05 15 Yr. Fixed 3.06% 0.33 -0.07 30 Yr. Jumbo 3.74% 0.31 -0.05 30 Yr. FHA 3.64% 0.25 -0.05 5/1 ARM 2.93% 0.22 +0.02 Freddie Mac ** 30 Yr. Fixed 3.64% 0.50 +0.06 15 Yr. Fixed 2.89% 0.50 +0.08 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.87% 0.50 +0.07 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 3.0 102.34 -0.02 30YR FNMA 3.5 104.63 +0.03 30YR GNMA 3.0 103.25 -0.05 30YR GNMA 3.5 105.53 +0.05 15YR FNMA 3.0 104.17 -0.05 15YR FNMA 2.5 102.48 0.00 Treasuries Yield Change 2 YR 0.9027% +0.0198 5 YR 1.3864% +0.0098 10 YR 1.8424% -0.0069 30 YR 2.6217% -0.0255 Prices as of: 6/1/2016 4:31PM 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. © 2016 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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