Mortgage Rates Tumble; MBS at All-time Highs Following QE3 Announcement

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Sep 13, 2012 4:35PM Mortgage Rates Tumble To Recent Lows Following Fed Announcement Mortgage rates abruptly lower today after the Fed unveiled a third round of large-scale asset purchases known as quantitative easing or QE3. Although the dollar amounts announced today are smaller than QE1 and QE2, the Fed deviated from past easing announcements and opted for open-ended buying this time. Not only that, but the buying is exclusively in Mortgage-Backed-Securities (MBS), unlike previous iterations which have had significant Treasury components. Logically, this is a bigger benefit for... Sep 13, 2012 4:25PM MBS Hit All-time Highs Following Fed QE3 Announcement MBS can't control their enthusiasm after the Fed announced MBS-Specific QE3 today, adding enough dedicated purchase money to the buy side each month to completely obviate any other buyers. Not only will the reinvestment of MBS proceeds continue, but now Congress Gets Bill Prohibiting Eminent Domain Mortgage Seizures HAMP Servicers and Their Metrics Continue to Improve Differences Between Current And Previous FOMC Announcements MBS MID-DAY: Bond Markets Hunkered Down For FOMC Announcement At 12:30pm Eastern OIG Reports on Progress since Review of Bank of America Repurchase Settlement Despite National Decline, Foreclosures Rising in Many States View: Front Page | Headline Viewer Micro News 3:46 PM: MBS Hit New All-Time Highs! Positive Reprices A Foregone Conclusion 2:25 PM: Fed Forecasts Show Major Shift Toward 2015 Low Rate Verbiage 1:15 PM: Digestion Continues, MBS Hit New Highs 12:53 PM: MBS Fall To Lows, Then Back To Pre-Statement Levels 12:36 PM: FOMC ANNOUNCES MBS SPECIFIC QE3 11:42 AM: Strong 30yr Auction Provides A Slight Boost Ahead Of FOMC 10:00 AM: Freddie Mac: Mortgage Rates Steady as Markets Speculate on Further Stimulus 9:15 AM: Bond Markets Reasonably Steady In Slightly Better Territory »View All Micro News Around the Web New York Fed releases frequently asked questions related to agency MBS FHFA developing new securitization platform U.S. Financial Rules Panel Should Improve Transparency, GAO Says DeMarco: Speech "The Conservatorships of Fannie Mae and Freddie Mac" Treasury: 1 mln mortgages modified in Obama effort Will Fed's Mortgage Buying Juice the Housing Recovery? »View More Around the Web Video News Flood of Foreclosures Fed to Buy $40 Billion in Mortgage Debt Each Month Nevada Drowning as Underwater Homes Cut Services »View More Video News Today's Comments "I am all for charity and helping others. But to foreclose on someone and then give it away just seems odd. Hopefully the homes they are giving away were..." "all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt." "Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..." »View More Comments Today's Q&A "How do I find out the rating for Union Home Loan in Calabasas, CA?" "Lender requested HO6 policy with 10% of appraised value coverage" "mortgage in one name and title in another during foreclosure" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.57 -0.09 15YR 2.90 -0.07 FHA30YR 3.50 -0.08 Jumbo30YR 4.14 -0.10 5/1ARM 2.96 -0.05 MBS Quotes 30YR FNMA 3 106-21 1-02 30YR FNMA 4 107-15 0-20 30YR FNMA 4 108-08 0-13 30YR FNMA 5 109-04 0-07 Treasuries 2 YR 0.2420 0.0040 3 YR 0.3235 0.0025 5 YR 0.6506 0.0046 7 YR 1.1146 0.0116 10 YR 1.7334 0.0124 30 YR 2.9473 0.0193 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Home Vacancy -4.55% Homeownership -0.15% Existing Home -0.80% New Home Prices -1.39% FHFA Home Price 0.68% Construction -0.93% 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