Daily Newsletter: Nightmare for Mortgage Rates; Modifications Down, Foreclosures Up; Catastrophic Week For Markets

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

30 Year Fixed 4.49%   +0.20 15 Year Fixed 3.65%   +0.17 10YR Treasury 2.54%   +0.1176 FNMA 30YR 3.5 100.36   -1.11 FNMA 15YR 2.5 102.28   -0.77 View Today's Rates

Friday June 21, 2013 Mortgage Rate Watch - 5:49PM Nightmare for Mortgage Rates: Way Worse Than Freddie Told You Mortgage rates have had a far worse week than than you've been told anywhere else, and today was even more freakishly destructive than the previous two days. Taken together, this is ... MND NewsWire - 1:36PM Modifications Decline Significantly; Foreclosure Sales Rise Modifications under the HOPE NOW alliance declined significantly in April, due entirely to a decline in the number of proprietary transactions. HOPE NOW said its members completed 69 ... MBS Commentary - 5:28PM MBS RECAP: Darkest Depths and Waking Nightmares MBS Live : MBS Afternoon Market Summary For those of us whose lives are intertwined by mortgage markets, these are dark times. The 3-day sell-off just seen in MBS (or Treasuries for ... Pipeline Press - 1:57PM Moody's, New Penn, Shellpoint; State-Level Mortgage Changes; are you ready for FMIC? Welcome to the day with the misnomer, "The longest day of the year." Every day has about 24 hours - this one, in the northern hemisphere, happens to have the longest period between ... Home Prices Growing "Too Fast;" More Homebuilding Needed -NAR GSE "Black Boxes" and Reps/Warrants Must Change - MBA Home Builders Report Significant Shortages in Key Building Materials Homeowners Vacate Many Properties Pre-Foreclosure Latest Video Fed & Market Disconnect? Can Housing Overcome Higher Rates? Is Volatility Here to Stay? More News from 'Around the Web' CNBC - 3:22PM 10-Year Treasury Yield Climbs Above 2.5% Washington Post - 3:21PM Here's how fast Fannie and Freddie are paying pack the Treasury CNBC - 2:59PM Mortgage Freak Out: Fed Will Not Let Mortgage Rates Go to Six Percent news.google.com - 1:10PM Analysis: Markets Might Be Misreading Fed's Messages - Wall Street Journal (blog) Bloomberg - 1:09PM Homebuilders May Weather Higher Mortgage Rates: Chart of the Day - Bloomberg CNBC - 12:54PM As Supply of Cape Cod Mansions Shrinks, Prices Soar CNBC - 12:50PM Plugging Leaks: Conference Board Ends Embargoes Reuters - 11:22AM Bernanke bond announcement was poorly timed: Fed's Bullard Bloomberg - 11:20AM Banks Had $7.5 Billion in First-Quarter Trade Revenue, OCC Says - Bloomberg Market Watch - 11:19AM Shares of home builders continue to drop CNBC - 11:18AM Real Estate 'Fundamentally Different': REIT CEO OCC - 11:18AM OCC Reports First Quarter Trading Revenue of $7.5 Billion www.cfpbmonitor.com - 9:37AM U.S. Chamber of Commerce challenges CFPB's data collection www.kpfa.org - 9:04AM SIFMA AMG Tim Cameron Shares Concerns on Use of Eminent Domain (33:40) zillow.mediaroom.com - 8:46AM 60 Percent of Homeowners Plan Summer Home Improvement Projects www.gallup.com - 8:46AM U.S. Investor Optimism Soared Before Market Turned business.time.com - 8:43AM No, China Is Not Having a Lehman Brothers Moment www.aei.org - 8:39AM Overzealous intervention dooms the market Reuters - 8:38AM Fed's Bullard says Bernanke bond announcement was poorly timed Reuters - 8:37AM Insight: Losses loom for investors enmeshed in mortgage chaos Today's Comments Mortgage Rate Watch - 11:49AM "Awesome summary, MG. Whether we like the direction thiz has gone or not, no regular reader can say we weren't warned well in advance...." MBS Live Chat - 1:56PM "No magic number ahead of NFP. Maybe 2.63-ish would get a strong showing, but maybe we won't have to find out (hoping anyway)..." MBS Live Chat - 2:17PM "Late Friday leakiness, FNMA 3.0 to break 97?..." MBS Live Chat - 2:18PM "This appears to have a little heavier flow than a leak...." MBS Live Chat - 2:18PM "Late Friday leakiness for sure. Note the MBS-specific-ness (i.e. making news lows while TSYs stay contained)...." MBS Live Chat - 2:23PM ""Morgan Stanley expected gross production in MBS to decline to between $100 and $110 billion per month from about the $150 billion average of the past six months. Based on the Fed's buying of about $70 billion per month, their purchases would take out 60 to 70 percent of the monthly production, up from..." MBS Live Chat - 2:41PM "REPRICE : 2:41 PM - Flagstar Worse..." MBS Live Chat - 2:42PM "REPRICE : 2:42 PM - Chase Worse..." MBS Live Chat - 3:10PM "REPRICE : 3:10 PM - Caliber Funding Worse..." MBS Live Chat - 4:04PM "REPRICE : 4:04 PM - Wells Fargo Worse..." MBS Live Chat - 4:09PM "REPRICE : 4:09 PM - Chase Worse..." Mortgage Rate Watch - 4:20PM "Thank god I locked it when I had the chance.. I was very upset when I couldn't get 3.125% on 30 years fixed. I ended up locking it at 3.625% last month, but looking at the rates of today.. I am just glad I took your advice! Thanks!..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.49% +0.20 15 Yr FRM 3.65% +0.17 FHA 30 Year Fixed 4.25% +0.28 Jumbo 30 Year Fixed 4.54% +0.19 5/1 Yr ARM 3.09% +0.07 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 3.93% 0.80 -0.05 15 Yr. Fixed 3.04% 0.70 -0.06 1 Yr. ARM 2.57% 0.40 -0.01 5/1 Yr. ARM 2.79% 0.50 +0.00 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 96.69 -1.36 30YR FNMA 3.5 100.36 -1.11 30YR GNMA 3.0 97.55 -1.39 30YR GNMA 3.5 100.97 -1.33 15YR FNMA 3.0 102.28 -0.77 15YR FNMA 2.5 99.47 -0.89 Treasuries Yield Change 2 YR 0.3677% +0.0370 5 YR 1.4294% +0.1216 10 YR 2.5403% +0.1176 30 YR 3.5930% +0.0774 Prices as of: 6/21/2013 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.