Daily Newsletter: Mortgage Market Hit Hard by Fed Announcement; Bernanke OK with Higher Rates; Apps Tumble; Servicers Struggle With Settlement

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30 Year Fixed 4.14%   +0.12 15 Year Fixed 3.36%   +0.12 10YR Treasury 2.34%   +0.1490 FNMA 30YR 3.5 102.28   -1.00 FNMA 15YR 2.5 103.50   -0.53 View Today's Rates

Thursday June 20, 2013 Mortgage Rate Watch - 11:34PM Mortgage Rates Annihilated; Brief History of All-Time Lows Mortgage rates have seen better days . If the past 2 months of calamitous volatility and almost daily cost hikes weren't enough, today brings the Conventional 30yr Fixed best-execution ... MBS Commentary - 3:45PM MBS SPECIAL ALERT: Bernanke Confirms Stabled Stallion On June 5th, before the most recent ADP report, and with an eye toward NFP on the upcoming Friday, I laid out the reasons that we should not expect the Fed to care about the mortgage ... MND NewsWire - 8:58AM Mortgage Applications Continue Tumbling as Rates Rise The rebound in mortgage application volume reported by the Mortgage Banker's Association (MBA) last week was short lived as both refinancing and purchase activity retreated again during ... MND NewsWire - 11:48AM Servicers Struggling with National Mortgage Settlement Compliance Monitor Says The Monitor of the National Mortgage Settlement submitted separate reports today to the U.S. District Court for the District of Columbia detailing the compliance efforts of each of ... Differences Between Past and Current FOMC Statements Origination Report Notes Improving Closing Rates and Timing MBS RECAP: Apocalyptic Catalogue of Reprice Alerts The Day Ahead: Fed's Script Already Out. Will They Stick to it? Las Vegas and Eminent Domain; Dodd-Frank Update; HARP Date Petition; CFPB Reminders Details from Wells Fargo Conference Call on Housing Market Freddie Mac Green Lights Fed Tapering Commercial Debt Declines Partially Offset by Multi-Family Latest Video Biggest Day of the Year For Treasuries? Santelli To Hilsenrath: Why Do We Still Need QE? Hilsenrath: Fed Brightens Recovery View More News from 'Around the Web' WSJ - 6:16PM Lone Dissenter No More: Fed Officials Have Divergent Objections www.cfpbmonitor.com - 6:11PM House holds another hearing on CFPB ability to repay/QM rule webfeeds.brookings.edu - 6:10PM Financial Market Confusion and Pessimism Do Not Mean The Fed Is Wrong on Monetary Policy Bloomberg - 6:09PM Markets Got Bernanke's Message - Bloomberg Federal Reserve - 6:04PM Federal Reserve Board and Federal Open Market Committee release economic projections from the June 18-19 FOMC meeting NAHB - 6:03PM Builders and Lumber Dealers See Shortages of Key Building Materials www.treasury.gov - 6:02PM Treasury Reaches Another TARP Milestone CNBC - 1:10PM Twitter Reacts to Rick Santelli's Fed Rant CNBC - 1:09PM Watch the Fed's Economic Forecast for 'Taper' Clues WSJ - 11:19AM Fed Press Conferences, by the Numbers Washington Post - 11:18AM Return of Drunk Bernanke: What the Fed chairman might want to say, but probably won't CNBC - 11:17AM Fed Will Tell Market to Chill: Pimco Strategist blog.hud.gov - 11:14AM Housing Counseling Works! S&P/Case Shiller - 9:48AM Stronger Prices Lift U.S. Homebuilders, But Better Job And Income Growth Is Needed For Long-Term Recovery WSJ - 9:47AM What to Expect From Fed Today Realtor.Org - 9:43AM MLSs See Gains in Efforts to Protect Data Bloomberg - 9:43AM Lennar Acquires 813 Homebuilding Lots in San Antonio Area - Bloomberg WSJ - 8:35AM In San Diego, Politics and Real Estate Mix www.corelogic.com - 8:35AM CoreLogic Releases June MarketPulse Report Bloomberg - 8:33AM Dallas Home Prices Do Best Since Bubble: Riskless Return - Bloomberg Today's Comments MND NewsWire - 10:00AM "It is not just a matter of whether the housing is affordable. It is a question of what that does to the price appreciation. A family that can afford only a certain amount for their payment, will see their potential purchase price drop by about 25k for each 1% rise in rates. The rebound in home prices..." Pipeline Press - 11:07AM "It's actually North Las Vegas considering eminent domain. Different city than the gambling Mecca. It would certainly be a bigger deal if Vegas were thinking of going down this treacherous path...." MND NewsWire - 12:12PM "I am waiting to see the "home builder confidence" when potential buyer's who signed contracts in May get the payment shock increase over 100 bucks a month and they back out of the deal...." MBS Live Chat - 12:14PM "lots of room for correction here: http://screencast.com/t/oI311q34kipc . Smack dab on upper line right now...." MBS Commentary - 4:09PM "Well done..." MBS Commentary - 6:41PM "Is it possible that some non-fed fundamentals could still push us back into the pre-May range? Europe for example? Massive pullback in equities? Are the days of the stock lever and risk on/risk off a non-starter in the current environment?..." MBS Commentary - 9:46PM "To whatever extent stocks and bonds have enjoyed a long term rally together due to central bank liquidity, the traditional view of the stock lever would not apply on longer term charts (even though it will continue to apply at varying times on intraday charts). I don't think Europe has the same power..." MBS Live Chat - 3:09PM ""our assessment is that the MBS market is still a very healthy market in terms of spreads, execution times, and our effect on the market"..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.14% +0.12 15 Yr FRM 3.36% +0.12 FHA 30 Year Fixed 3.83% +0.14 Jumbo 30 Year Fixed 4.25% +0.05 5/1 Yr ARM 2.95% +0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.03% 0.84 +0.07 30 Yr. Fixed 3.77% 1.20 +0.03 MBA ** 30 Yr. Fixed 4.17% 0.41 +0.02 15 Yr. Fixed 3.30% 0.39 -0.02 30 Yr. Jumbo 4.23% 0.34 -0.02 30 Yr. FHA 3.85% 0.22 +0.04 5/1 ARM 2.81% 0.35 +0.03 Freddie Mac ** 30 Yr. Fixed 3.98% 0.70 +0.07 15 Yr. Fixed 3.10% 0.70 +0.07 1 Yr. ARM 2.58% 0.40 +0.00 5/1 Yr. ARM 2.79% 0.60 +0.05 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 98.91 -1.22 30YR FNMA 3.5 102.28 -1.00 30YR GNMA 3.0 100.11 -1.45 30YR GNMA 3.5 103.41 -1.22 15YR FNMA 3.0 103.50 -0.53 15YR FNMA 2.5 100.95 -0.83 Treasuries Yield Change 2 YR 0.3105% +0.0485 5 YR 1.2401% +0.1833 10 YR 2.3362% +0.1490 30 YR 3.4065% +0.0632 Prices as of: 6/19/2013 4:30PM 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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