Daily Newsletter: Mortgage Rates Continue Lower; Debate Over Mortgage Deduction; Have Home Sales Peaked?

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

30 Year Fixed 4.45%   -0.04 15 Year Fixed 3.55%   -0.04 10YR Treasury 2.75%   +0.0532 FNMA 30YR 3.5 100.67   -0.16 FNMA 15YR 2.5 102.70   +0.03 View Today's Rates

Thursday September 19, 2013 Mortgage Rate Watch - 5:19PM Mortgage Rates Continue Lower Despite Market Reversal Mortgage rates moved moderately lower on average today. Not all lenders improved, but most did. Those who were in similar or higher territory compared to yesterday's latest rates were ... MND NewsWire - 12:22PM Highest Home Sales Since 2005 May be Temporary Peak Existing home sales reached a six-and-a half year peak in August, increasing 1.7 percent to a seasonally adjusted annual rate of 5.48 million units compared to 5.39 million in July ... MND NewsWire - 3:36PM Debate over Mortgage Interest Deduction, Government Role in Housing There was sharp disagreement among participants in at least one panel at a forum on the future of housing sponsored by the National Association of Home Builders (NAHB) and produced ... MBS Commentary - 7:24PM MBS RECAP: Catching Breath after FOMC MBS Live : MBS Afternoon Market Summary There's a decent enough chance that if you didn't know what happened yesterday, today's weakness would be just as frustrating as any other weakness ... More on QM & Non-QM Production Possibilities; Cortland Leaving Wholesale and Other Bank M&A News CPFB Provides Key to Using HMDA Data Lenders Reported 38 percent More Loans in 2012; 54 percent More Refinances MBS RECAP: Fed Flips One Script, Sticks to the Other; Facemelter Ensues As Rates Rise, Origination Trends Toward Looser Credit Build Your Own Fed Statement - Taper Edition Latest Video Mortgage rates lower Pimco's El-Erian: 'Fed taper is not probable this year' Existing home sale up 1.7% in August More News from 'Around the Web' Bloomberg - 5:45PM Pimco's Gross Sees More Focus on Inflation by Fed Under Yellen - Bloomberg CNN - 5:45PM Warren Buffett's pick for Federal Reserve chair is Ben Bernanke CNBC - 4:17PM Mortgage slump forces new layoffs at Wells Fargo CNN - 3:29PM High speed traders reacted instantly to Fed WSJ - 3:28PM Meyer: Yellen Likely to Continue Aggressive Monetary Policy WSJ - 3:26PM Housing Inventory Crunch Starting to Slowly Ease Bloomberg - 3:25PM Ex-Countrywide President Plans Mortgage-Bond Return at PennyMac - Bloomberg Bloomberg - 1:17PM Fed's Pianalto Says Renters Need More Access to Affordable Homes Reuters - 12:49PM Real estate firm Re/Max expects IPO to be priced at $19-$21/shr Bloomberg - 12:33PM Bernanke Faith in Housing Seen Shaken in Bonds: Credit Markets - Bloomberg CNBC - 12:31PM What now? 3 things to watch from Fed decision Reuters - 11:40AM New York proposes new rules for force-placed insurance Reuters - 11:40AM Wells Fargo cutting 1,800 jobs in mortgage business CNBC - 11:39AM Home sales 'last hurrah' for next 12 months FHFA - 11:38AM FHFA Launches Quarterly Report on Fannie Mae, Freddie Mac and Federal Home Loan Banks Financial Performance CNBC - 10:46AM What housing slowdown? Resales at 6.5-year highs WSJ - 10:46AM Goldman Sachs: Higher Mortgage Rates to Weigh on Economic Growth Google News - 10:45AM NAR: August Existing-Home Sales Rise, Limited Inventory Continues to Push Prices freddiemac.mwnewsroom.com - 10:44AM Freddie Mac: Mortgage Rates Move Lower CNBC - 10:42AM Existing home sales jump 1.7 percent in August, better than expected Today's Comments MBS Live Chat - 2:32PM "Does anyone else feel robbed? The last 4 months have been brutal and rates today remain 1% higher versus early May, all due to tapering talk... tapering which was canceled but we're still left with higher rates..." MBS Live Chat - 2:33PM "Traders know taper will happen eventually...." MBS Live Chat - 2:33PM "Wasn't cancelled, just delayed...." MBS Live Chat - 2:34PM "Nope, yesterday was a very unexpected surprise, take your gains and get ready for when tapering does start..." MBS Live Chat - 2:35PM "it's not like it was gonna happen and now it's not. There's been a big, thematic shift in the nature of bond markets from the pre-May epoch to now. I would argue (and did) that it was happening in Jan/Feb, in that we were moving from a world where QE was omnipresent, and potentially going to get bigger..." Mortgage Rate Watch - 6:26PM "I love your blog...Thank you..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.45% -0.04 15 Yr FRM 3.55% -0.04 FHA 30 Year Fixed 4.20% -0.05 Jumbo 30 Year Fixed 4.44% -0.06 5/1 Yr ARM 3.15% -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 4.75% 0.39 -0.05 15 Yr. Fixed 3.81% 0.34 -0.02 30 Yr. Jumbo 4.83% 0.33 -0.01 30 Yr. FHA 4.50% 0.41 -0.06 5/1 ARM 3.54% 0.43 -0.05 Freddie Mac ** 30 Yr. Fixed 4.50% 0.70 -0.07 15 Yr. Fixed 3.54% 0.70 -0.05 1 Yr. ARM 2.65% 0.40 -0.02 5/1 Yr. ARM 3.11% 0.50 -0.11 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 96.44 -0.28 30YR FNMA 3.5 100.67 -0.16 30YR GNMA 3.0 97.38 -0.11 30YR GNMA 3.5 101.83 0.00 15YR FNMA 3.0 102.70 +0.03 15YR FNMA 2.5 99.56 -0.08 Treasuries Yield Change 2 YR 0.3347% +0.0081 5 YR 1.4819% +0.0460 10 YR 2.7501% +0.0532 30 YR 3.7980% +0.0456 Prices as of: 9/19/2013 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.