Daily Newsletter: Industry Leaders on FHA Reform; Loan Cure Rates; HUD's 2014 Budget

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30 Year Fixed 3.54%   +0.02 15 Year Fixed 2.85%   +0.01 10YR Treasury 1.81%   +0.0567 FNMA 30YR 3.5 105.78   -0.45 FNMA 15YR 2.5 105.23   -0.19 View Today's Rates

Wednesday April 10, 2013 MND NewsWire - 2:49PM Congress Hears Recommendations for FHA Reform from Industry Leaders The House Financial Services Subcommittee heard testimony today from housing industry leaders on congressional efforts to reform the Federal Housing Administration (FHA) . This is the ... MND NewsWire - 12:08PM FHA Loans Continue Driving Delinquency Cure Rates The Lender Processing Service (LPS) February Mortgage Monitor found that loan prepayment rates, historically a good indicator of refinancing activity, have declined as interest rates ... MND NewsWire - 8:40AM Purchase Applications Highest Since Homebuyer Tax Credit, Despite Significant Drop in Government Applications Applications for government-backed mortgages dropped significantly during the week ended April 5, but mortgage activity in other sectors was strong . The Mortgage Bankers Association ... MND NewsWire - 5:31PM HUD's Donovan Outlines 2014 Budget; 90% to Support Existing Programs U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has released details of the Obama Administration's proposed Fiscal Year 2014 HUD Budget. The HUD portion of the budget ... Mortgage Rates Continue Higher For Third Straight Day MBS RECAP: Weakness Pushes Rates Back Inside Long Term Uptrend HARP Continues to Attract Seriously Underwater Borrowers Five Servicers Attain Four STAR Level in Fannie Mae Program Foreclosure Settlement Payments Range from $300 up to $125,000 Further State Involvement in Mortgage Servicing Needed to Prevent Foreclosures Recent Bank Mergers; Ugly News for Access National and Golden First; Thoughts on New Appraisers Latest Video Home Prices Rising Faster Than Incomes FOMC Minutes Inadvertently Released Early What's Inside the President's Budget? More News from 'Around the Web' freddiemac.mwnewsroom.com - 5:18PM Freddie Mac Names David B. Lowman Executive Vice President, Single-Family Business House Financial Services - 5:17PM Subcommittee Hearing Examines Regulatory Burden on Credit Unions CNBC - 5:17PM Stock Market Feels Like Housing in 2006: Sam Zell SIFMA - 5:24PM SIFMA Statements Regarding President Obama's FY 2014 Budget Proposal CNBC - 5:16PM These 12 Banks Also Got the Fed Minutes a Day Early Bloomberg - 3:02PM Fed's Lockhart Says Too-Big-to-Fail Bailouts Still a Risk www.aei.org - 3:01PM Pinto: Is the Fed blowing a new housing bubble? Google News - 2:57PM Realtors® Applaud FHA for Taking Steps to Improve its Financial Stability NAHB - 2:56PM FHA Reform Efforts Must Ensure Borrowers Have Access to Affordable Home Loans CNBC - 2:55PM Dimon Letter Warns Shareholders of More Actions by Banking Regulators House Financial Services - 2:51PM Financial Services Committee Chairman Hensarling Comments on Expected Taxpayer Bailout of FHA CNBC - 2:51PM Why Housing Affordability Is at Risk CNBC - 2:51PM Home Construction Will Feed Job Growth: CEO CNBC - 10:37AM 'Wall St. Shadow Regulators' Under Scrutiny CNBC - 10:35AM Cyber Threats Escalate as Banks Go Paperless appropriations.house.gov - 10:34AM Chairman Rogers: President's Budget is Overdue and Overstuffed CNBC - 10:04AM Do the Early Fed Minutes Matter? Probably Not The Big Picture - 9:46AM Why Canada Avoids Banking Crises Realtor.Org - 9:39AM NAR: Selling a Foreclosure? Don't Ignore the Tenant Federal Reserve - 9:33AM Fed: Minutes of the Federal Open Market Committee, March 19-20, 2013 Today's Comments MBS Live Chat - 1:01PM "RTRS - U.S. 9-YR 10-MO NOTES BID-TO-COVER RATIO 2.79, NON-COMP BIDS $8.61 MLN..." MBS Live Chat - 1:03PM "serviceable results... C+/B-. Santelli will think it's better than it is because he usually doesn't distinguish reopenings vs refundings, so he may lean into the "B" territory...." MBS Live Chat - 1:04PM "santelli says c+..." MBS Live Chat - 1:46PM "Hmm. DU giving me a refer for BK showing as 4/11 on credit...." MBS Live Chat - 1:49PM "Guessing I need to find someone who will manually UW it?..." MBS Live Chat - 1:57PM "yes, you will probably have approval next month..." MBS Live Chat - 1:58PM "OK. Thanks, AC and JY. April 2011 - April 2013 = 24 months though. Does it need to be over 24 months?..." MBS Live Chat - 1:59PM "I think you would get approval if you run it in MAy..." MBS Live Chat - 1:59PM "Exactly. DU doesn't know if it was 4/1 or 4/30 for the BK. Just had one like this with a short sale...." Today's Rates Best Execution Rate Change 30 Yr FRM 3.54% +0.02 15 Yr FRM 2.85% +0.01 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.67% +0.01 5/1 Yr ARM 3.02% +0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.78% 0.76 +0.08 30 Yr. Fixed 3.53% 1.11 +0.06 MBA ** 30 Yr. Fixed 3.68% 0.43 -0.08 15 Yr. Fixed 2.92% 0.34 -0.07 30 Yr. Jumbo 3.79% 0.36 -0.06 30 Yr. FHA 3.43% 0.52 -0.05 5/1 ARM 2.58% 0.37 -0.02 Freddie Mac ** 30 Yr. Fixed 3.54% 0.80 -0.03 15 Yr. Fixed 2.74% 0.70 -0.02 1 Yr. ARM 2.63% 0.40 +0.01 5/1 Yr. ARM 2.65% 0.50 -0.03 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 3.0 103.50 -0.59 30YR FNMA 3.5 105.78 -0.45 30YR GNMA 3.0 105.13 -0.42 30YR GNMA 3.5 108.13 -0.33 15YR FNMA 3.0 105.23 -0.19 15YR FNMA 2.5 103.94 -0.38 Treasuries Yield Change 2 YR 0.2341% +0.0000 5 YR 0.7372% +0.0384 10 YR 1.8069% +0.0567 30 YR 3.0054% +0.0677 Prices as of: 4/10/2013 4:28PM 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. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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