Mortgage Rates Reluctantly Lower Despite Plummeting Treasuries

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May 30, 2012 3:17PM Mortgage Rates Reluctantly Lower Despite Plummeting Treasuries Mortgage Rates improved only slightly today despite an aggressive interest rate drop in the broader bond markets. Lenders' rate sheet offerings are CLOSE but not quite back to their May 17-18 levels which were the best on record. Best-Execution rate for 30yr Fixed Conventional loans was unchanged at 3.75% with the variations in rates vs yesterday being seen in the form of lower closing costs (or higher lender credits, depending on your scenario). (Read More: What is A Best-Execution Mortgage Rate... May 30, 2012 11:13AM David Stevens Leaves MBA to Take Position as President of SunTrust Mortgage Only slightly more than a year after joining the Mortgage Bankers Association as its President and CEO, David Stevens will leave to become President of SunTrust Mortgage, Inc . Stevens will join SunTrust effective July 16 and will be responsible for day-to-day business operations of the company. His new position will report to the bank's CEO Jerome Lienhard. In announcing the departure of Stevens, MBA said it has already begun a search for his replacement. In the interim, Marcia M. Davies , MBA's... MBS RECAP: New Record Levels For MBS And Treasuries Organizations React to CFPB Compensation Proposals; MBA's Revised 2012 Estimates; QM Update; 10-yr Hits 1.68% CoreLogic Reports 66,000 Foreclosures in April, Down 15.4% YoY MBS MID-DAY: Clawing At All-Time Highs While Treasuries Have It Easy Pending Sales Break 3-Month Winning Streak MBA: Mortgage Applications Fall as Rates Reach New Historic Lows View: Front Page | Headline Viewer Micro News 2:43 PM: Ongoing Potential, But Limited Incentive For Positive Reprices 11:57 AM: Pain Trade Continues Grinding Yields Lower, MBS Ground Into Ceiling 10:14 AM: MBA Announces David H. Stevens to Leave Association 10:12 AM: SunTrust Names Mortgage Industry Veteran David Stevens to New Role as President 10:00 AM: NAR: Pending Home Decline in April but Up Strongly From a Year Ago 9:14 AM: EU Events Catalyze Big Rally Overnight, Holding For Now 8:08 AM: MBA: Mortgage Applications Fall 1.3% 8:07 AM: MBA: Mortgage Rates Drop to New Survey Lows »View All Micro News Around the Web Importance of Home Prices Goes Beyond Housing Rosengren: The Economic Outlook and Its Policy Implications Fed's Dudley: U.S. banks in better crisis shape Senators Begich, McCain Call for Transparency and Responsibility in Fannie / Feddie Executive Compensation Maryland Attorney General Outlines Plans for $60 Million from Mortgage Settlement Funds Fannie, Freddie easy prey for cash-hungry Congress »View More Around the Web Video News The Fed's Role in the US Markets Homebuyer Interest In Foreclosures Jumped Al Lewis: Banks Can Default, But Customer Can't »View More Video News Today's Comments "Forgive me... "POST CRISIS... my ass... the crisis has been ongoing for some five years... Dr. Shiller and Mr. Case still do not "get it"..." "Fundamentals haven't changed and won't soon, but the Fed's intervention in the securities markets (Operation Twist) is scheduled to end in..." "I find this post slightly amusing actually. There is nothing unconstitutional or illegal about requiring fingerprints for a position (verified by 2 constitutional..." »View More Comments Today's Q&A "Can a loan officer be employed by two or more brokes in arizona?" "Can I have a co-signer when I refinance to get someone else's name off a mortgage?" "Is my name on a mortgage" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.81 -0.01 15YR 3.09 -0.01 FHA30YR 3.72 -0.01 Jumbo30YR 4.11 -0.02 5/1ARM 3.02 0.00 MBS Quotes 30YR FNMA 3 104-25 0-16 30YR FNMA 4 106-12 0-10 30YR FNMA 4 107-08 0-05 30YR FNMA 5 108-12 0-03 Treasuries 2 YR 0.2696 -0.0194 3 YR 0.3643 -0.0477 5 YR 0.6903 -0.0867 7 YR 1.0577 -0.1253 10 YR 1.6186 -0.1294 30 YR 2.7130 -0.1410 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home -5.54% FHFA Home Price 1.78% Existing Home 3.36% Building Permits -7.02% Housing Starts 2.58% Construction 0.10% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031