Daily Newsletter: Reverse Mortgage Restrictions; Builders Need More Lots; Volatility Ahead for Rates

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30 Year Fixed 4.74%   +0.06 15 Year Fixed 3.82%   +0.05 10YR Treasury 2.90%   +0.0372 FNMA 30YR 3.5 98.84   -0.38 FNMA 15YR 2.5 101.52   -0.22 View Today's Rates

Wednesday September 4, 2013 MND NewsWire - 10:59AM New Restrictions on Reversed Mortgages Aimed at Sustainability New guidance effecting the Federal Housing Administration's (FHA's) Home Equity Conversion Mortgage (HECM) program, often referred to as reverse mortgages , was announced in a letter ... MND NewsWire - 3:30PM Shortage of Buildable Lots Holding Back Housing Market -NAHB Builders are encountering a shortage of buildable lots the National Association of Home Builders (NAHB) said today; a lack of lots that is particularly acute in the most desirable areas ... Mortgage Rate Watch - 5:13PM Mortgage Rates Higher Still, Volatility Ahead Mortgage rates moved higher again today , making it one of the three worst days of the year for rates. The rate with the most efficient combination of upfront cost and monthly payment ... MND NewsWire - 2:19PM Record Decline in Commercial Mortgage-Backed-Securities Delinquency Delinquency rates for commercial and multifamily mortgages loans improved in the second quarter of 2013 across all of the major groups that invest in them. The Mortgage Bankers Association ... Provident Cuts IOs; Ellie Mae up for Sale? Do Brokers Have to Keep 5% of Their Production? Can Jobs Numbers Be Predicted by Consumer Confidence? Homeowner Advocacy Group Kicks off Membership Drive Token Bounce for Mortgage Applications on Slightly Lower Rates MBS RECAP: Bond Markets Deteriorate Into Afternoon Residential Construction Spending Stayed Strong in July HARP Demand Prevents Sharper Drop in Prepayments Latest Video Fannie and Freddie future Casey: Investors Care More About Fed Than Syria Seeing continued housing recovery: Huskey More News from 'Around the Web' blog.hud.gov - 6:43PM Changes to Reverse Mortgages Will Protect Consumers Reuters - 4:09PM U.S. Senate panel passes authorization for use of military force in Syria Reuters - 3:42PM SEC 'monitoring developments' after latest Nasdaq outage Washington Post - 2:45PM Here's what Larry Summers would do at the Fed CNBC - 2:45PM Consumer saving backslides Reuters - 2:45PM Senate panel struggles for consensus on Syria military strikes Bloomberg - 2:24PM Fannie Mae Prepares Investors for Mortgage Risk-Sharing Bonds - Bloomberg Federal Reserve - 2:23PM Summary of Commentary on Current Economic Conditions (Beige Book) CNBC - 2:23PM Upbeat Fed outlook suggests QE tapering is near Bloomberg - 1:28PM Fed's Williams Backs Slowing Bond Buying Later This Year - Bloomberg CNBC - 1:27PM What financial crisis? Consumers saving less CNN - 12:39PM U.S. reverses slide in competitiveness Bloomberg - 12:38PM Pimco's El-Erian Says Fed to Taper Asset Purchases Next Meeting - Bloomberg Washington Post - 12:37PM This chart shows why $270 billion in housing aid hasn't solved homelessness NAHB - 12:32PM Shortage of Lots Slows Housing Recovery WSJ - 10:24AM Vital Signs: Northeast Lags in Job Demand CNN - 10:21AM Don't trust your central bank? Bet against it. www.gallup.com - 9:05AM U.S. Private-Sector Hiring Strongest, Federal Gov't Weakest Reuters - 9:03AM U.S. trade deficit widens in July as imports rebound www.aei-ideas.org - 9:03AM Study: Without Fed's QE program, US unemployment would have hit 18% Today's Comments MND NewsWire - 9:40AM "It's a wonder refi volume isn't down further. Between FHA streams that are priced out of the market, HARP's that have already been done, and rates that are 1%+ above May's levels, refi prospects are not exactly stellar at the moment!..." MBS Live Chat - 1:49PM "Feelings on next two days? Most of y'all locking or floating..." MBS Live Chat - 1:50PM "Well, since OB is down, going to float for now...." MBS Live Chat - 1:51PM "Naturally, I also had a couple wanted to price before this morning before things got worse..." MBS Live Chat - 2:09PM "RTRS- WILLIAMS: MBS PURCHASES ARE MORE EFFECTIVE THAN TREASURIES, WANT TO KEEP BUYING THEM UNTIL END OF QE3..." MBS Live Chat - 1:25PM "wow having to lock today is going to suck. either be a hero or a zero depending on Thurs/Friday news...." MBS Live Chat - 1:55PM "Loving the mobile site!..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.74% +0.06 15 Yr FRM 3.82% +0.05 FHA 30 Year Fixed 4.43% +0.07 Jumbo 30 Year Fixed 4.70% +0.05 5/1 Yr ARM 3.19% -0.02 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 4.73% 0.33 -0.07 15 Yr. Fixed 3.75% 0.30 -0.09 30 Yr. Jumbo 4.71% 0.25 -0.07 30 Yr. FHA 4.48% 0.30 -0.04 5/1 ARM 3.49% 0.37 -0.01 Freddie Mac ** 30 Yr. Fixed 4.51% 0.70 -0.07 15 Yr. Fixed 3.54% 0.70 -0.06 1 Yr. ARM 2.64% 0.40 -0.03 5/1 Yr. ARM 3.24% 0.50 +0.03 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 94.63 -0.39 30YR FNMA 3.5 98.84 -0.38 30YR GNMA 3.0 95.48 -0.52 30YR GNMA 3.5 99.80 -0.45 15YR FNMA 3.0 101.52 -0.22 15YR FNMA 2.5 98.27 -0.36 Treasuries Yield Change 2 YR 0.4700% +0.0476 5 YR 1.7448% +0.0612 10 YR 2.8985% +0.0372 30 YR 3.8006% +0.0090 Prices as of: 9/4/2013 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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