Daily Newsletter: Mortgage Rates Hit July Lows; Existing Home Sales Fall; Eminent Domain Bill Reintroduced; NY's FHA Nightmare

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30 Year Fixed 4.36%   -0.05 15 Year Fixed 3.58%   -0.04 10YR Treasury 2.48%   +0.0002 FNMA 30YR 3.5 101.44   +0.14 FNMA 15YR 2.5 102.91   +0.08 View Today's Rates

Monday July 22, 2013 Mortgage Rate Watch - 4:14PM Mortgage Rates Hit July Lows After Weak Housing Data Mortgage rates were lower again to begin the week as weaker-than-expected economic data helped rates improve slightly in the morning. The overall level of activity in bond markets that ... MND NewsWire - 10:57AM Sales of Existing Homes Slip; Prices Continue Higher Existing home sales dipped slightly in June and May sales were revised down from previously reported levels the National Association of Realtors® (NAR) said today. Sales of previously ... MND NewsWire - 3:23PM Bill Striking at Eminent Domain Reintroduced Representative John Campbell (R-CA) has reintroduced the Defending American Taxpayers From Abusive Government Takings Act he originally sponsored in September of 2012. The law is a ... Pipeline Press - 9:25AM REIT Performance; Another Big Settlement; NY State's FHA/Subprime Nightmare We'll see a lot of housing news this week. Recently May 2013's, and before that April's, national and regional prices showed continued improvements - a sign of the spring buying season ... Financial Services Committee Responds to PATH Criticism Fannie Mae Expects Rates to Continue Higher Treasury Blog Examines Redefault Rates for HAMP Modifications MBS MID-DAY: Slowly and Steadily Winning an Inconsequential Race Obscure Fannie Program Benefits Parents, Students, and Disabled Children MBA's Stevens and Others Raise Concerns over PATH Proposal 'Point Bank' Legality; Wells, PNC, & Cole Taylor Lay-Offs and Transition; More on 3% Rule Agencies Scuffle Over Best Way to Make Loans More Expensive Latest Video June existing home sales miss The Great Divide: Autos, defense & housing Must-do mortgage move More News from 'Around the Web' www.treasury.gov - 2:24PM Understanding HAMP Re-Default Rates Market Watch - 2:23PM Builders slide following housing data CNBC - 1:03PM Who needs volume? Stocks fine without it CNBC - 1:00PM Investors are moving out of housing, here's why CNBC - 10:42AM Existing home sales drop 1.2 percent, missing analysts' expectations WSJ - 9:53AM Housing Dominates This Week's Data Reuters - 9:45AM UBS second-quarter profit beats forecasts despite U.S. mortgage suit settlement NY Fed - 9:44AM Distressed Residential Real Estate: Dimensions, Impacts, and Remedies NY Fed - 9:39AM Distressed Residential Real Estate: Dimensions, Impacts, and Remedies: Compendium of Conference Findings Fannie Mae - 9:28AM News Release - Economy Poised for a Stronger Second Half ... The Big Picture - 8:39AM Datapoint: Aftermath of the Housing Bubble Reuters - 7:38AM U.S. appeals court will not intervene in FHFA lawsuits vs. banks Bloomberg - 7:37AM Pimco's Gross Says Fed Will Tighten Policy in 2016 at Earliest CNN - 7:36AM UBS settles mortgage case for $745 million CNBC - 7:28AM US Stocks Seen Higher Ahead of Earnings Wave www.whitehouse.gov - 7:27AM Weekly Address: Confirming Rich Cordray to Lead the CFPB Today's Comments MBS Live Chat - 11:56AM "REUTERS POLL-38 OF 56 ECONOMISTS EXPECT U.S. FEDERAL RESERVE TO START REDUCING ITS BOND PURCHASES BY SEPTEMBER..." MBS Live Chat - 12:43PM "How likely do you guys see the Fed coming out and saying "We will start tapering in Sept" at the FOMC meetings next week?..." MBS Live Chat - 12:45PM "i'm commenting on MG's reuters poll...the Fed's desire for transparency and their reiteration of a data dependent template seems to have fallen on the deaf ears...." MBS Live Chat - 12:51PM "If/when the housing numbers drop again next month, I'll be curious to see what impact that has on the Fed's data dependent template...." MBS Live Chat - 12:53PM "I believe the Fed at least had to try and see if this economy had "legs"... It's like child.. you hate to see them fall down, but it's the only way to learn how to walk..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.36% -0.05 15 Yr FRM 3.58% -0.04 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.45% -0.05 5/1 Yr ARM 3.21% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.80% 1.17 -0.23 30 Yr. Fixed 3.58% 1.37 -0.19 MBA ** 30 Yr. Fixed 4.68% 0.42 +0.00 15 Yr. Fixed 3.70% 0.38 -0.06 30 Yr. Jumbo 4.81% 0.40 -0.05 30 Yr. FHA 4.38% 0.22 +0.01 5/1 ARM 3.39% 0.37 -0.01 Freddie Mac ** 30 Yr. Fixed 4.37% 0.70 -0.14 15 Yr. Fixed 3.41% 0.70 -0.12 1 Yr. ARM 2.66% 0.40 +0.00 5/1 Yr. ARM 3.17% 0.60 -0.09 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 97.70 +0.08 30YR FNMA 3.5 101.44 +0.14 30YR GNMA 3.0 98.67 +0.16 30YR GNMA 3.5 102.38 +0.14 15YR FNMA 3.0 102.91 +0.08 15YR FNMA 2.5 100.03 0.00 Treasuries Yield Change 2 YR 0.3062% +0.0039 5 YR 1.2996% +0.0016 10 YR 2.4823% +0.0002 30 YR 3.5473% -0.0121 Prices as of: 7/22/2013 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

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