Daily Newsletter: Mortgage Rates at Best Levels, Waiting for Fed Next Week; Obama Fed Chief Rumors; Risks From 2nd Mortgages

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30 Year Fixed 4.64%   -0.04 15 Year Fixed 3.74%   -0.02 10YR Treasury 2.89%   -0.0202 FNMA 30YR 3.5 98.92   +0.20 FNMA 15YR 2.5 101.55   +0.14 View Today's Rates

Friday September 13, 2013 Mortgage Rate Watch - 5:42PM Mortgage Rates at Best Levels, Waiting for Fed Next Week Mortgage rates improved slightly today, bringing them to their best levels of week. The day's economic data, which stood a chance to push rates in either direction, ended up having ... MND NewsWire - 10:56AM Obama to Name Summers Fed President, or No Decision Yet? Japan's Nikkei newspaper is quoting unnamed sources saying that former Clinton Administration Treasury Secretary Lawrence Summers will be the next Chairman of the Federal Reserve Board ... MND NewsWire - 12:14PM Mortgage Lending Faces Big Risks From 2nd Liens, Delinquencies, and Higher Rates Darrin Benhart, Deputy Comptroller for Credit and Market Risk, Office of Comptroller of the Currency (OCC) said in a speech on Wednesday that the banking industry has a good deal of ... Pipeline Press - 10:23AM CFPB Cordray's Testimony - Who Will Regulate the Regulator? Talk About Preparing for a CFPB Exam After 36 years of space travel and months of heated debate among scientists, NASA confirmed Thursday that Voyager 1 has indeed left our solar system and had entered interstellar space ... CFPB Finalizes Mortgage Rule Changes Announced in June Senate Witnesses Agree on Vital Components for Mortgage Reform Treasury's Gift on 5-Yr Anniversary of Mortgage Meltdown: Nifty Charts MBS RECAP: Bravery and Stupidity are Scarce Ahead of Fed FSC Chair Asks "Who Will Protect Consumers From the CFPB?" New Home Mortgage Applications Plummet in August Even the Big Boys are Supposedly Easing Lending Standards; Sterling / Umpqua Merger; Citi Layoffs Voters Overwhelmingly Support Increased Mortgage Industry Regulation Latest Video Nation's debt drama takes center stage TARP one of the 'worse economic decisions' in US history: Kovacevich The Week Ahead: The Fed & the collapse of Lehman More News from 'Around the Web' Reuters - 7:07PM Wall Street Week Ahead: Fed may taper without causing market tantrum Reuters - 7:00PM Bankruptcy court approves ResCap's $596.5 million deal with FGIC Reuters - 5:13PM Banks to get third-quarter profit boost from dipping into reserves Reuters - 5:13PM Democrats harden opposition against Summers for Fed Market Watch - 4:55PM Tester to vote 'no' on Summers HUD - 3:49PM Obama Administration Releases August Housing Scorecard Market Watch - 3:45PM The Fed: Besides the taper, 5 things to watch at the Fed Bloomberg - 3:44PM Consumers Tune Out Fed's Inflation Target - Bloomberg DataQuick - 2:21PM August Bay Area Home Sales Report Bloomberg - 2:19PM Merrill Lynch Must Face Mortgage Lawsuit, Judge Says The Atlantic - 1:07PM The Comprehensive Case Against Larry Summers CNBC - 1:07PM Fed chair pick likely in a few weeks, not next week The Atlantic - 1:06PM A House Is a Home—Not an Investment S&P/Case Shiller - 12:19PM Richmond, Calif.'s Eminent Domain Proposal Could Have A Far-Reaching Impact On The U.S. RMBS Market CNBC - 10:34AM US consumers turn glum; soaring rates dampen mood Reuters - 10:34AM U.S. business inventories rise, may lift third-quarter growth CNN - 9:07AM Obama to name new top economic adviser Reuters - 9:06AM U.S. producer prices rise, but inflation pressures benign Reuters - 9:06AM U.S. retail sales miss expectations, point to slow growth Bloomberg - 9:06AM El-Erian Says Fed to End Easing to Prevent Excessive Risk - Bloomberg Today's Comments MND NewsWire - 1:24AM "LOVE IT. Nice when even Congress "gets" it when regulatory agencies run amuck. Let's hope the "many further appearances" continue regularly...." MND NewsWire - 11:41AM "Why is it necessary in any stretch of the imagination for the CFPB to be exempt from the Budgetary and Appropriations process? Does that make sense to any body?..." MBS Live Chat - 11:45AM "just got an appraisal noting that the roof is toast. they have a pending hail claim and the insurance is replacing the roof. Do you think we can close this w/o replacing the roof since there is a claim in process to get it fixed? this is a refi..." MBS Live Chat - 11:46AM "I think you are going to have to wait..." MBS Live Chat - 11:46AM "is appraisal marked subject to?..." MBS Live Chat - 11:47AM "i think VB will be correct, who knows that they won't just take the insurance money and spend it on something else? Not saying they will, but that will be the arguement..." MBS Live Chat - 11:47AM "no, just says that it appears to be at the end of its functional life..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.64% -0.04 15 Yr FRM 3.74% -0.02 FHA 30 Year Fixed 4.31% -0.04 Jumbo 30 Year Fixed 4.65% -0.04 5/1 Yr ARM 3.13% -0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.44% 0.85 +0.40 30 Yr. Fixed 4.27% 1.09 +0.51 MBA ** 30 Yr. Fixed 4.80% 0.46 +0.07 15 Yr. Fixed 3.83% 0.42 +0.08 30 Yr. Jumbo 4.84% 0.41 +0.13 30 Yr. FHA 4.56% 0.28 +0.08 5/1 ARM 3.59% 0.43 +0.10 Freddie Mac ** 30 Yr. Fixed 4.57% 0.80 +0.00 15 Yr. Fixed 3.59% 0.70 +0.00 1 Yr. ARM 2.67% 0.40 -0.04 5/1 Yr. ARM 3.22% 0.50 -0.06 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 94.52 +0.16 30YR FNMA 3.5 98.92 +0.20 30YR GNMA 3.0 95.17 +0.09 30YR GNMA 3.5 99.86 +0.20 15YR FNMA 3.0 101.55 +0.14 15YR FNMA 2.5 98.23 +0.11 Treasuries Yield Change 2 YR 0.4352% -0.0078 5 YR 1.6996% -0.0097 10 YR 2.8902% -0.0202 30 YR 3.8385% -0.0154 Prices as of: 9/13/2013 4:32PM 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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