Daily Newsletter: Mortgage Rates Drop Sharply as Jobs Report Puts Fed on Hold; Do CFPB Payday Loan Proposals Affect Residential Lending?

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30 Year Fixed 3.62%   -0.09 15 Year Fixed 2.92%   -0.05 10YR Treasury 1.71%   -0.0934 FNMA 30YR 3.5 104.97   +0.28 FNMA 15YR 2.5 104.48   +0.23 View Today's Rates

Friday June 3, 2016 Mortgage Rate Watch - 2:29PM Mortgage Rates Drop Sharply After Employment Data Mortgage rates plummeted today, relatively speaking, fully erasing the damage done 2 weeks ago after the Fed Minutes sent rates higher at the fastest pace in months. Let's continue ... MND NewsWire - 3:09PM May jobs number is an outlier, but still puts the Fed on hold: Goldman's Hatzius Friday's disappointing jobs report is likely an anomaly, but it was bad enough to wipe out any chance that the Federal Reserve will raise interest rates this month, Goldman Sachs Chief ... Pipeline Press - 9:41AM What CFPB's Payday Proposals Might Mean for Residential Biz - Alternatives Springing Up “Rob, do you know of any banks looking to buy pools of home equity lines of credit?” Ah, the Holy Grail for plenty of non-bank lenders. You can check out www.mortgageelements ... MBS Commentary - 8:17AM MBS Day Ahead: NFP Doesn't Matter in The Bigger Picture Strong, stable payroll growth is old news. Yet another NFP reading north of 150k or another 5%-ish unemployment reading are just a few more bricks in fairly meaningless wall . After ... Buyers Increasingly Worried by Competition Mortgage Credit Access Continues to Slide Latest Video Jobs tumble in May Jobs jeopardize June hike Fed's Evans says rate hike timing 'not really that critical' More News from 'Around the Web' CNBC - 2:13PM Fed's Brainard talks rates after jobs CNBC - 2:12PM Despite jobs bombshell, Fed could still hike in July Bloomberg - 11:54AM Revisions Show Marked Labor Market Deceleration Trend CNBC - 11:52AM May jobs number is an outlier, but still puts the Fed on hold: Goldman's Hatzius www.realtor.com - 10:23AM Could a Mortgage for Debt-Ridden Millennials Be Too Good to Be True? webfeeds.brookings.edu - 10:23AM Do Fed officials talk too much about plans for interest rate moves? CNBC - 10:23AM ISM manufacturing index hits 52.9 in May; Construction spending up 1.9% in April www.builderonline.com - 10:23AM Housing Demand Fell 5% in April, Supply Dwindled CNBC - 8:57AM Odds for interest rate hikes plunge after major jobs report miss Calculated Risk Blog - 8:57AM May Employment Report: 38,000 Jobs, 4.7% Unemployment Rate CNBC - 8:56AM Charts: The real story on the unemployment rate www.nytimes.com - 7:51AM What to Expect From the May Jobs Report Reuters - 7:51AM Equities attract $1.5 billion, first inflows in eight weeks: BAML Today's Rates Best Execution Rate Change 30 Yr FRM 3.62% -0.09 15 Yr FRM 2.92% -0.05 FHA 30 Year Fixed 3.25% -0.05 Jumbo 30 Year Fixed 3.65% -0.06 5/1 Yr ARM 3.00% -0.05 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 3.66% 0.50 +0.02 15 Yr. Fixed 2.92% 0.50 +0.03 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.88% 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 3.0 102.88 +0.41 30YR FNMA 3.5 104.97 +0.28 30YR GNMA 3.0 103.56 +0.27 30YR GNMA 3.5 105.80 +0.31 15YR FNMA 3.0 104.48 +0.23 15YR FNMA 2.5 102.91 +0.33 Treasuries Yield Change 2 YR 0.7835% -0.1113 5 YR 1.2339% -0.1151 10 YR 1.7073% -0.0934 30 YR 2.5224% -0.0558 Prices as of: 6/3/2016 3:10PM 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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