Daily Newsletter: Senator Demands Change on Short Sale Credit Score Effects; Rates Snap Back To Recent Highs; Market Volatility Ahead of the Fed

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

30 Year Fixed 3.68%   +0.08 15 Year Fixed 2.84%   +0.04 10YR Treasury 1.95%   +0.0749 FNMA 30YR 3.5 105.11   -0.41 FNMA 15YR 2.5 104.94   -0.22 View Today's Rates

Friday May 17, 2013 MND NewsWire - 2:04PM Senator on a Mission to Change the Way Short Sales Affect Credit Reporting Senator Bill Nelson (D-FL has asked for an investigation and possible "crackdown" on the manner in which short sales are impacting consumer credit files . Nelson said that short sales ... Mortgage Rate Watch - 3:51PM Mortgage Rates Jump Back To Recent Highs, More Volatility Ahead Mortgage rates moved higher at their fastest pace in two weeks , after having their best day in more than 6 weeks just yesterday. The net effect for rates is not good, leaving them ... MND NewsWire - 3:18PM Home Sales Would Rise 15-20 Percent With 720 FICO - NAR Lawrence Yun, chief economist for the National Association of Realtors® (NAR) said Thursday it might be time to " dial down the credit stringency ." If the credit scores required ... MND NewsWire - 4:56PM Consumer Mortgage Choice Act Under Fire From CFL The Center for Responsible Lending (CFL) has released a brief issues paper voicing objections to HR 1077 , The Consumer Mortgage Choice Act. The bill currently sits in the House Financial ... MBS RECAP: Reminded of Volatility via Friday Cliff-Diving Ginnie I, II, or...III: Combining the Programs and the Advantages to Originators; Credit Unions Weigh in on QM Kickback Accusations Resolved by CFPB Consent Filing CFPB Reminds Lenders of Changes to Mandatory Arbitration Provisions Latest Video Betting Big on Apartments Kocherlakota Urges Fed to Focus on 'Real' Rate Seib & Wessel: Bernanke Faces Lawmakers' Questions More News from 'Around the Web' Bloomberg - 3:27PM Wells Fargo Postpones Some Foreclosure Sales After OCC Guidance - Bloomberg SIFMA - 3:26PM In Case You Missed It: FHA Official Concerned About Mortgages Seized by Eminent Domain Reuters - 2:36PM Fed has not lowered interest rates enough: Kocherlakota Google News - 2:34PM Opportunities Abound in Housing Market but Challenges Remain CNBC - 1:49PM U.S. judge blocks $13 million arbitration award against SunTrust CRL - 1:29PM HR 1077 Would Legalize Risky Loan Features OCC - 1:28PM Independent Foreclosure Review Payments Approach $2.2 Billion blog.hud.gov - 12:50PM Fair Housing Means EVERYONE www.aei-ideas.org - 11:32AM Is inequality hurting the US economic recovery? Google News - 11:28AM Realtors® Can Increase Their Value by Better Leveraging Technology, Says realtor.com® WSJ - 10:37AM Can This House Sell for $190 Million? Reuters - 10:35AM May consumer sentiment rises to highest in nearly six years CNBC - 10:32AM Even as Housing Revives, Apartment Growth to Boom SIFMA - 9:34AM SIFMA Market Close Recommendations for US Memorial Day and UK Spring Bank Holidays in the US, the UK and Japan www.treasury.gov - 2:27PM Secretary Lew Sends Debt Limit Letter to Congress Today's Comments MBS Live Chat - 12:10PM "this all seems like such an over reaction..." MBS Live Chat - 12:12PM "just setting up that pre-FOMC range. Hopefully you've been reading the blog posts on MND. I've been talking more about it there...." MBS Live Chat - 12:17PM ""To help maintain a healthy fear of selling, keep in mind that most options for charting intermediate term (around 6-9 months) are bearish. Simple technicals are still bearish as well, as seen with the set of long to short moving averages on the chart (green/red crossing orange is an early signal while..." MBS Live Chat - 12:18PM "from : http://www.mortgagenewsdaily.com/mortgage_rates/blog/309072.aspx..." MBS Live Chat - 12:10PM "REPRICE : 12:10 PM - Sierra Pacific Worse..." MBS Live Chat - 12:30PM "REPRICE : 12:30 PM - Flagstar Worse..." MBS Live Chat - 12:31PM "REPRICE : 12:31 PM - Plaza Worse..." MBS Live Chat - 12:41PM "REPRICE : 12:41 PM - Interbank Worse..." MBS Live Chat - 12:43PM "REPRICE : 12:43 PM - Fifth Third Mortgage Worse..." MBS Live Chat - 1:15PM "REPRICE : 1:15 PM - Chase Worse..." MND NewsWire - 9:48AM "It would be good to know how Dr. Stiff anticipates the market reacting to the Fed's foreseen reduction in purchases of MBS and Treasuries. How will demand for housing be impacted by rising interest rates on mortgage financing and rising demand for high quality MBS and treasuries. It seems that, as interest..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.68% +0.08 15 Yr FRM 2.84% +0.04 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.77% +0.06 5/1 Yr ARM 3.00% +0.00 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 3.67% 0.41 +0.08 15 Yr. Fixed 2.88% 0.31 +0.07 30 Yr. Jumbo 3.87% 0.25 +0.08 30 Yr. FHA 3.43% 0.16 +0.08 5/1 ARM 2.55% 0.23 +0.02 Freddie Mac ** 30 Yr. Fixed 3.51% 0.70 +0.09 15 Yr. Fixed 2.69% 0.70 +0.08 1 Yr. ARM 2.55% 0.40 +0.02 5/1 Yr. ARM 2.62% 0.50 +0.04 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 3.0 102.48 -0.59 30YR FNMA 3.5 105.11 -0.41 30YR GNMA 3.0 103.91 -0.67 30YR GNMA 3.5 107.13 -0.45 15YR FNMA 3.0 104.94 -0.22 15YR FNMA 2.5 103.36 -0.38 Treasuries Yield Change 2 YR 0.2458% +0.0125 5 YR 0.8318% +0.0473 10 YR 1.9541% +0.0749 30 YR 3.1686% +0.0718 Prices as of: 5/17/2013 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. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

View this Report in your Web Browser     |    Forward to a Friend    |    Subscribe

You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.