Daily Newsletter: Home Sales Rise, Prices Nearing Pre-Crash Peak; Rates Rise After Fed Minutes; Purchase Applications Overtake Refis

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30 Year Fixed 4.74%   +0.03 15 Year Fixed 3.82%   +0.01 10YR Treasury 2.89%   +0.0737 FNMA 30YR 3.5 98.48   -0.61 FNMA 15YR 2.5 101.36   -0.38 View Today's Rates

Wednesday August 21, 2013 MND NewsWire - 11:19AM Home Sales up 6.5 Percent; Prices Nearing Pre-Crash Peak Sales of existing home increased strongly in July and median home prices are now nearing their pre-crash peak National Association of Realtors® (NAR) said today. Sales in July rose ... Mortgage Rate Watch - 5:15PM Mortgage Rates Head Higher After Fed Minutes Mortgage rates rose moderately following today's release of Minutes from the July 31st FOMC Meeting. There was no meaningful new information, but there was also nothing to challenge ... MND NewsWire - 9:25AM Purchase Apps Rise Again; Rising Rates Killing Refi Apps Applications for refinancing fell again during the week ended August 16 the Mortgage Bankers Association (MBA) said today. MBA' Refinancing Index, a measure of application volume, fell ... MND NewsWire - 4:14PM Purchase Originations Overtake Refinances -Ellie Mae Ellie Mae said today that loans for refinancing represented only 47 percent of loans originated in July, dropping from 51 percent in June and representing less than half of all loans ... Broker's Share of Biz Drops; Fannie & Freddie Update Policies Including QM/ATR, ULDD, and Fees Housing Contribution to GDP Will Double by 2015 - Fannie Mae MBS RECAP: Markets Tank After Fed Minutes Leave Sep-Taper on Table Housing Reform Juggles Reduced Government Role With Increased Private Capital Realtor's In-House Lenders & Builder/Lender Offices; FinCen compliance; Are Non-Competes Valid? Pre-Approvals vs. Pre-Qualifications in the Home Buying Process FHA Throws Lifeline to Those With Damaged Credit During Recession Latest Video Fed impact on housing Where are the first time homebuyers? Toll Bros. CEO: 'Rising rates are not affecting our customers' More News from 'Around the Web' Bloomberg - 6:11PM Did ARMs Keep the Housing Crisis From Being Even Worse? - Bloomberg Bloomberg - 4:56PM Assured Guaranty, JPMorgan Agree to End Mortgage Suits - Bloomberg blogs.desmoinesregister.com - 4:36PM More layoffs at Wells Fargo Home Mortgage Federal Reserve - 4:20PM Minutes of the Federal Open Market Committee, July 30-31, 2013 CNBC - 3:41PM Cashin: Market's 'wild ride' after Fed minutes CNBC - 3:35PM Cauldron of hawks emerges on Fed policy committee news.google.com - 2:42PM Key Passages From Fed Minutes - Wall Street Journal Reuters - 2:39PM Fed meeting minutes offer few clues on timing of QE3 reduction Reuters - 2:20PM U.S. consumer bureau investigating mortgage servicing problems CNBC - 2:19PM Keep printing: Minutes show Fed staying in the game Bloomberg - 2:19PM FOMC Minutes Show Broad Support for Bernanke Tapering Timeline Reuters - 2:19PM Fed mulling new reverse repos to reduce liquidity: FOMC minutes Bloomberg - 1:08PM Bond Funds See $30.3 Billion of August Withdrawals as Rates Rise - Bloomberg www.zerohedge.com - 12:52PM Is Jackson Hole's 'Agenda-Less' Agenda To Taper Treasuries Before MBS? Washington Post - 11:23AM This one photo from 1998 includes everybody involved in the Fed chair decision CNBC - 11:18AM Three reasons everyone is dead wrong about bonds CNBC - 10:18AM Lowe's beats; crunch time near for homebuilders Fannie Mae - 10:17AM News Release - Economy Picks Up Steam; Housing Recovery ... CNBC - 10:17AM US existing home sales jump 6.5 percent in July Reuters - 8:58AM Higher home prices boost Toll Brothers' revenue Today's Comments MBS Commentary - 8:12AM "Nice prep for the day... should be required reading..." MBS Commentary - 8:28AM "awesome! thanks mg..." MBS Commentary - 8:59AM "Great EHS vs. Rates chart...." MBS Live Chat - 2:29PM "problem is we're all spoiled, rates have been dropping for 12 years and everyone has refied 4 times. Sooner or later we have to break out into a purchase market..." MBS Live Chat - 2:29PM "At this point does everyone here see the FED tapering in September? I was optimistic until today but I think it is reality...." MBS Live Chat - 2:29PM "MH, I understand your perspective. Been here since 1987. Where rates were and are today isn't the point. If I sold you a computer for 2000 bc mine is 1985 was 3000 would that be reason enough for paying that price today?..." MBS Live Chat - 2:33PM "I agree. many of us have attempted to keep on a brave face about rates being ok where they are. the consumer says differently, which is why apps are down 60%. how you and I may do amidst this is a different story. The bottom line is consumers feel loans are overpriced and have voted with their feet...." MBS Live Chat - 2:49PM "REPRICE : 2:49 PM - Wells Fargo Worse..." MBS Live Chat - 2:51PM "REPRICE : 2:51 PM - Flagstar Worse..." MBS Live Chat - 3:37PM "REPRICE : 3:37 PM - Franklin American Worse..." MBS Live Chat - 3:38PM "REPRICE : 3:38 PM - Homebridge Worse..." MBS Live Chat - 3:38PM "REPRICE : 3:38 PM - Stonegate Mortgage Worse..." MBS Live Chat - 3:38PM "REPRICE : 3:38 PM - BB&T Worse..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.74% +0.03 15 Yr FRM 3.82% +0.01 FHA 30 Year Fixed 4.40% +0.03 Jumbo 30 Year Fixed 4.72% +0.00 5/1 Yr ARM 3.34% +0.05 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 4.61% 0.42 +0.03 15 Yr. Fixed 3.66% 0.43 -0.01 30 Yr. Jumbo 4.64% 0.34 +0.00 30 Yr. FHA 4.33% 0.26 +0.03 5/1 ARM 3.39% 0.37 +0.00 Freddie Mac ** 30 Yr. Fixed 4.40% 0.70 +0.00 15 Yr. Fixed 3.44% 0.60 +0.01 1 Yr. ARM 2.67% 0.40 +0.05 5/1 Yr. ARM 3.23% 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 94.25 -0.75 30YR FNMA 3.5 98.48 -0.61 30YR GNMA 3.0 95.17 -0.66 30YR GNMA 3.5 99.58 -0.56 15YR FNMA 3.0 101.36 -0.38 15YR FNMA 2.5 98.05 -0.50 Treasuries Yield Change 2 YR 0.3714% +0.0285 5 YR 1.6394% +0.0980 10 YR 2.8898% +0.0737 30 YR 3.9179% +0.0632 Prices as of: 8/21/2013 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

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